Bitcoin
London Stock Exchange to List Physically Backed Bitcoin and Ethereum ETPs
An international exchange-traded fund provider, WisdomTree, has become one of the first issuers to have its crypto ETPs listed on the LSE.
Tree of Wisdoma fund traded on an international exchange (ETF) and exchange-traded product (ETP), has obtained approval from the British Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE), marking a pivotal moment for the industry and UK-based professional investors.
On a blog ad On May 22, Alexis Marinof, head of Europe at WisdomTree, emphasized the importance of this development, calling the approval a “significant step forward for the industry” in the UK.
Marinof also noted that regulatory limitations and uncertainty have previously prevented many professional investors from gaining exposure to Bitcoin and other cryptocurrencies. However, with FCA approval, these barriers to entry are expected to decrease.
The company’s crypto ETPs are already listed on other stock exchanges, including the Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and the Euronext exchanges in Paris and Amsterdam. WisdomTree’s Bitcoin (BTCW) and Ethereum (ETHW) ETPs are expected to begin trading on May 28.
It is important to note that crypto exchange-traded notes (ETNs) scheduled for trading on the LSE are restricted to professional investors and will operate on designated trading segments. Each crypto ETN can offer up to three different currency lines, increasing flexibility for investors looking to diversify their crypto exposure through traditional financial markets.