As an analyst with a background in financial markets and experience in the European ETF industry, I view WisdomTree’s achievement as a positive development for both the company and the crypto asset class. The approval from the U.K.’s Financial Conduct Authority (FCA) to list physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE) marks an important milestone, opening up new opportunities for professional investors in the U.K. market.
WisdomTree, a prominent global provider of exchange-traded funds (ETFs), is now among the pioneering issuers to have their crypto ETPs (Exchange-Traded Products) listed on the London Stock Exchange (LSE).
International financial firm WisdomTree, known for offering exchange-traded funds (ETFs) and exchange-traded products (ETPs) on various markets, has secured authorization from the United Kingdom’s Financial Conduct Authority (FCA) to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE). This significant milestone signifies a crucial development for the sector and professional investors in the U.K.
In a blog post on May 22, Alexis Marinof, European chief at WisdomTree, highlighted the importance of this recent development, referring to the U.K.’s approval as a “notable advancement” or “important milestone” for the industry.
Marinof pointed out that prior regulatory restrictions and ambiguity kept many experienced investors from accessing Bitcoin and similar cryptocurrencies. But with the FCA’s endorsement, it’s expected that these hurdles for entry will ease.
The crypto exchange-traded products (ETPs) issued by the company are currently available for trading on various stock markets, including Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and exchanges in Paris and Amsterdam. It is expected that WisdomTree’s Bitcoin (BTCW) and Ethereum (ETHW) ETPs will begin trading on May 28.
As a financial analyst, I’d like to point out that the crypto exchange-traded notes (ETNs) intended for sale on the London Stock Exchange are exclusively accessible to professional investors and will function within defined trading areas. Each crypto ETN could provide up to three distinct currency options, allowing investors to expand their crypto exposure through conventional financial channels with added flexibility.
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2024-05-22 14:28