In a groundbreaking move, WisdomTree, a prominent provider of exchange-traded funds (ETFs) and exchange-traded products (ETPs), has secured approval from the British Financial Conduct Authority (FCA) to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE). This development marks a significant milestone for the cryptocurrency industry and opens new doors for U.K.-based professional investors.
Announced in a blog post on May 22, Alexis Marinof, Head of Europe at WisdomTree, highlighted the importance of this regulatory approval. He described it as a “significant step forward for the industry” within the U.K., noting that previous regulatory constraints and uncertainties had largely prevented professional investors from gaining exposure to Bitcoin and other cryptocurrencies. The FCA’s approval is expected to reduce these barriers, facilitating broader access to digital assets.
WisdomTree’s crypto ETPs are already listed on several other major stock exchanges, including Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext exchanges in Paris and Amsterdam. The Bitcoin (BTCW) and Ethereum (ETHW) ETPs by WisdomTree are set to commence trading on the LSE on May 28.
These new crypto exchange-traded notes (ETNs) on the LSE will be available exclusively to professional investors and will be traded within designated segments. Each ETN will offer up to three different currency lines, providing investors with greater flexibility in managing their cryptocurrency exposure through conventional financial markets.
The listing of these physically-backed ETPs represents a pivotal advancement in integrating digital assets with traditional financial systems, potentially paving the way for more widespread adoption and investment in cryptocurrencies.
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