Overview
- BlackRock’s iShares Bitcoin ETP (ticker IB1T) began trading on the London Stock Exchange, offering physically backed exposure with Coinbase custody and units priced around $11.
- Fees on IB1T are 0.15% through the end of 2025 before rising to 0.25%, while rivals 21Shares, WisdomTree and Bitwise launched competing Bitcoin and Ethereum products with headline fees as low as 0.05%–0.10%.
- UK retail investors can now buy these products through regular brokerages and tax-advantaged wrappers such as ISAs and SIPPs, with ISA eligibility set to narrow after April 6, 2026.
- The rollout lands during choppy trading, with US spot Bitcoin ETFs posting about $1.2 billion in net outflows last week and another $40.5 million on Monday as Bitcoin hovered near $110,000.
- Industry commentary points to potential UK inflows over time, including projections of roughly $1.5–$2 billion for BlackRock’s fund, while the FCA maintains restrictions on retail crypto derivatives.