PANews reports on April 2nd that according to DL News, global asset management giant BlackRock has obtained approval from the UK Financial Conduct Authority (FCA) and officially become a registered crypto asset company. This means the company will be able to operate its newly launched European Bitcoin Exchange Traded Product (ETP) as a UK entity.

According to the FCA's updated list on April 1st, BlackRock has become the 51st company to obtain this qualification, alongside companies like Coinbase, PayPal, and Revolut. It is worth noting that the FCA's approval rate for crypto companies is only around 14%, and the institution has clearly stated that it will reject applications that "lack key assessment elements or do not meet material quality standards". This approval paves the way for BlackRock to promote its iShares Bitcoin ETP in Europe.