The post FCA Greenlights Bitcoin and Ethereum ETPs on London Stock Exchange appeared on BitcoinEthereumNews.com.

The Financial Conduct Authority (FCA) has approved the listing of Bitcoin and Ethereum exchange-traded products (ETPs) on the London Stock Exchange (LSE). This approval is a historical moment for the crypto industry and WisdomTree, the asset manager behind the ETPs. Also Read: Bitcoin Price Prediction 2024-2030 With a management expense ratio pegged at just 35 basis points, these offerings rank among Europe’s most economical institutional-grade cryptocurrency products, enhancing crypto’s legitimacy in the traditional finance industry. ETPs to Start Trading in Six Days On May 28, WisdomTree Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) will be available exclusively to professional investors. According to Alexis Marinof, WisdomTree’s Head of Europe, the FCA’s green light is more than a regulatory win. It’s a gateway to greater institutional participation. In his words: FCA approval in this respect could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty – we would expect FCA approval of our crypto ETPs’ prospectus to remove those barriers to entry. Interestingly, WisdomTree’s latest success isn’t its first foray into cryptocurrency-backed financial instruments. In 2019, the company became the first to launch physically-backed Bitcoin ETPs for European investors. WisdomTree’s Crypto Portfolio Grows According to the company’s announcement today, its portfolio has expanded to include eight different crypto ETPs. These products provide direct price exposure to popular cryptocurrencies like Bitcoin and Ethereum, as well as to a diversified basket of other crypto assets. Also Read: How a 10,000 Bitcoin Pizza Changed Bitcoin Marinof further emphasized that while UK-based professional investors had previously accessed similar products through foreign exchanges, they can now engage directly through a domestic platform. Marinof anticipates this easier access could encourage a wider adoption among institutional investors, who…

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Filed under: News - @ May 22, 2024 1:18 pm