Physically-backed Bitcoin and Ethereum ETPs set for listing on London Stock Exchange
WisdomTree, a leading provider of international exchange-traded funds (ETFs) and exchange-traded products (ETPs), has received approval from the British Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE). This is a significant milestone for both the industry and professional investors in the UK.
In a recent blog post, Alexis Marinof, head of Europe at WisdomTree, highlighted the significance of this achievement, referring to it as a “significant step forward for the industry” in the UK. Marinof also acknowledged that regulatory constraints and uncertainty had previously prevented many professional investors from accessing Bitcoin and other cryptocurrencies. However, with the FCA’s approval, these barriers are expected to diminish.
WisdomTree’s crypto ETPs are already listed on various other stock exchanges, including Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext exchanges in Paris and Amsterdam. The company’s Bitcoin (BTCW) and Ethereum (ETHW) ETPs are scheduled to commence trading on May 28.
It is important to note that the crypto exchange-traded notes (ETNs) that will be traded on the LSE are limited to professional investors and will operate within designated trading segments. Each crypto ETN will offer up to three different currency lines, providing investors with greater flexibility to diversify their exposure to cryptocurrencies through traditional financial markets.
In addition to WisdomTree, other firms such as ETC Group, CoinShares, and WisdomTree are also preparing to list crypto ETPs on the London Stock Exchange.
