Bitcoin
WisdomTree (WT) gets green light to list Bitcoin (BTC), Ether (ETH) ETPs on LSE
Asset manager WisdomTree (WT) has gained approval from the Financial Conduct Authority (FCA) to list crypto exchange-traded products (ETPs) on the London Stock Exchange (LSE), saying it is among the first candidates to have its prospectus given the go- ahead by the UK regulator.
WisdomTree’s Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs are expected to begin trading on May 28 and will only be available to professional investors, according to a Wednesday announcement. They will charge fees of 35 basis points.
The New York-based company has more than $111 billion in assets under management worldwide and its WisdomTree Bitcoin Fund (BTCW) was among those approved in the US to operate a spot bitcoin ETF in January. Offering crypto products on European exchanges since 2019.
The regulator also approved prospectuses for 21Shares and Invesco, according to the FCA website. Neither company immediately responded to CoinDesk’s request for further comment.
The FCA introduced a ban on crypto derivatives products, including ETPs, in January 2020. However, as these products have been widely available in Europe for several years and following US spot ETF listing approvals, the regulator adjusted its position. He is maintaining the ban on retail investors.
UPDATE (May 22, 12:35 UTC): Adds a line about 21Shares and Invesco also getting their prospects approved.