WisdomTree, an international exchange traded fund provider, has become one of the first issuers to list a cryptocurrency ETP on the LSE.
WisdomTree, an international exchange traded fund (ETF) and exchange traded product (ETP) provider, has received approval from the UK Financial Conduct Authority to list physically backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE). Obtained from. This is a pivotal moment for the industry and UK-based professional investors.
In a blog post on 22 May, WisdomTree's head of Europe, Alexis Marinoff, highlighted the importance of this development, calling the approval a “significant step forward for the industry” in the UK.
Marinov also pointed out that regulatory restrictions and uncertainty have previously prevented many professional investors from gaining exposure to Bitcoin and other cryptocurrencies. However, with FCA approval, these barriers to entry are expected to decrease.
The company's cryptocurrency ETP is already listed on other stock exchanges, including Deutsche Börse Xetra, Swiss Exchange SIX, and the Euronext exchanges in Paris and Amsterdam. WisdomTree's Bitcoin (BTCW) and Ethereum (ETHW) ETP is scheduled to begin trading on May 28th.
It is worth noting that the crypto ETNs scheduled to be traded on the LSE are limited to professional investors and will operate within designated trading segments. Each crypto ETN can offer up to three different currency lines, increasing flexibility for investors looking to diversify their exposure to cryptocurrencies through traditional financial markets.
