WisdomTree, an international provider of exchange-traded funds (ETFs) and exchange-traded products (ETPs), has achieved approval from the British Financial Conduct Authority (FCA) to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE), marking a significant milestone for the industry and professional investors in the U.K.
In a blog post on May 22, Alexis Marinof, head of Europe at WisdomTree, highlighted the significance of this approval, describing it as a “major advancement for the industry” in the U.K.
Marinof also pointed out that previous regulatory constraints and uncertainties had prevented many professional investors from accessing Bitcoin and other cryptocurrencies. However, with the FCA‘s approval, these entry barriers are expected to diminish.
WisdomTree‘s crypto ETPs are already listed on other 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 from WisdomTree are set to commence trading on May 28.
It’s important to note that the crypto exchange-traded notes (ETNs) scheduled for trading on the LSE are limited to professional investors and will operate within designated trading segments. Each crypto ETN may offer up to three different currency lines, providing investors with increased flexibility to diversify their exposure to cryptocurrencies through traditional financial markets.
Summary Review: The approval for WisdomTree to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange represents a significant milestone for both the cryptocurrency industry and professional investors in the United Kingdom. This development signifies a step forward in accessibility to digital assets for institutional investors, overcoming previous regulatory barriers and uncertainties. With these ETPs set to commence trading on May 28, professional investors will have increased flexibility to diversify their portfolios and gain exposure to cryptocurrencies through traditional financial markets. Overall, this move highlights the growing acceptance and integration of cryptocurrencies into mainstream financial infrastructure, paving the way for broader adoption and investment opportunities in the digital asset space.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
