Ethereum

21Shares lists 4 Bitcoin and Ethereum ETNs on LSE

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6 months ago

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21Shares has listed its first cryptocurrency exchange-traded notes (ETNs) with exposures to bitcoin and ether on the London Stock Exchange (LSE) after the Financial Conduct Authority (FCA) gave the green light to the access of professional investors to ETNs in March.

Ether is the native cryptocurrency of the Ethereum smart contract blockchain.

The 21Shares Bitcoin ETN (ABTC) and 21Shares Ethereum Staking ETN (AETH) have total expense ratios (TER) of 1.49% while the 21Shares Bitcoin Core ETN (CBTC) and 21Shares Ethereum Core ETN (ETHC) have TER of 0.21%.

All products are available in US Dollar and British Pound exposures.

Learn more: SEC Modifies Ethereum Rule, Sets Stage for ETF Approval

Ophelia Snyder, co-founder of 21Shares, said: “The UK is one of the deepest and most liquid capital markets in the world.

“As institutional interest in cryptocurrencies grows, it is only natural that the London Stock Exchange hosts responsible and properly constructed funds providing access to these markets.”

WisdomTree also lists FTEs

WisdomTree, which received approval of the FCA to list its Bitcoin and Ethereum-based exchange-traded products on the LSE earlier in May, also listed them on Tuesday.

Elsewhere, Cboe UK has become the second exchange following the LSE to accept Bitcoin and Ethereum ETNs in March.

To be listed in the UK, ETNs must be physically backed, unleveraged and limited to exposures to bitcoin or ether.

Retail investors still don’t have access to crypto ETNs as the UK watchdog still considers them ‘ill-suited’.

This article first appeared in ETF.com’s sister publication, ETFStream.com.

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