Overview
- The iShares Bitcoin ETP, ticker IB1T, began trading on the London Stock Exchange on Oct. 20, offering spot bitcoin exposure without direct custody.
- The product is physically backed with bitcoin held by Coinbase, with institutional cold storage arrangements detailed in product materials.
- 21Shares, Bitwise, and WisdomTree also listed Bitcoin and Ethereum ETPs in London, broadening investor options with some reduced-fee offerings.
- UK retail investors can access these products through standard brokers and tax-efficient wrappers such as ISAs and SIPPs, while the retail ban on crypto derivatives remains in place.
- The launches follow a turbulent period that included over $500 million in digital-asset ETP outflows after an Oct. 10 liquidity event, as bitcoin prices recovered toward $110,000.