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WisdomTree to Launch Bitcoin, Ethereum ETPs on London Stock Exchange

Key Takeaways

  • WisdomTree wins FCA approval to list Bitcoin and Ethereum ETPs on the LSE;
  • The ETPs, available to professional investors only, will start trading on May 28;
  • FCA's adjusted stance follows broader acceptance of crypto products in Europe, and spot Bitcoin ETF approvals in the US.
WisdomTree to Launch Bitcoin, Ethereum ETPs on London Stock Exchange

WisdomTree has secured approval from the Financial Conduct Authority (FCA) to list its crypto exchange-traded products (ETPs) on the London Stock Exchange (LSE).

The asset manager announced on May 22 that its Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs will begin trading on May 28, positioning it among the first to have its prospectus approved by the FCA.

These products will be available exclusively to professional investors and will carry fees of 35 basis points.

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What is Ethereum & What is it Used For? (Animated Explanation)

What is Ethereum & What is it Used For? (Animated Explanation) What is Ethereum & What is it Used For? (Animated Explanation)

In January 2020, the FCA banned crypto derivatives, including ETPs. However, the regulator has adjusted its stance, following the widespread availability of such products in Europe and the approval of US spot Bitcoin ETFs.

In March, the FCA indicated it would not oppose financial institutions listing ETPs for professional investors. The LSE confirmed it would start accepting applications for Bitcoin (BTC) and Ether (ETH) products in the second quarter.

The Head of Europe at WisdomTree, Alexis Marinof, remarked on the approval:

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.

WisdomTree, headquartered in New York, manages over $111 billion in assets globally. Its WisdomTree Bitcoin Fund (BTCW) was one of the first approved for a spot Bitcoin ETF in the US in January. The firm has been offering crypto products on European exchanges since 2019.

The upcoming listing reflects increased acceptance of crypto products in mainstream financial markets.

Meanwhile, in the US, five major asset managers have updated their spot Ether ETF applications following SEC feedback, fueling optimism about their potential approval.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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