Bitcoin
WisdomTree Bitcoin, Ethereum ETPs to be listed in the UK
Tree of Wisdom
WisdomTree has received approval from the Financial Conduct Authority (FCA) to list its Bitcoin and Ethereum exchange-traded products on the London Stock Exchange (LSE).
O WisdomTree Physical Bitcoin ETP (WBTC) and the WisdomTree Physical Ethereum ETP (WETH) will be among the first set of crypto ETPs to be listed in the UK, set to launch on May 28th.
It comes after the FCA gave the green light for crypto listings on UK exchanges in March, giving professional investors access to the products for the first time.
However, crypto ETNs in the UK will only be available to professional investors, with the ban on retail access still in place.
To be listed on the LSE, crypto ETNs must be physically backed, unleveraged, and offer exposure to Bitcoin or Ethereum only.
More institutional interest?
Alexis Marinof, Head of Europe at WisdomTree, said: “The FCA’s approval of the prospectus for our crypto ETPs is a significant step forward for the industry and UK-based professional investors seeking exposure to the asset class.
“While UK-based professional investors have been able to allocate crypto ETPs through overseas exchanges, they will soon have a more convenient access point.”
He added that he expects the approval to drive greater institutional adoption of the asset class by removing barriers to entry.
This story initially he appeared in etf.com’s sister publication, ETFStream.com.
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