Big Day in the Cryptocurrency World: Bitcoin and Ethereum ETFs Will Start Trading in the UK

Following the launch of Bitcoin and Ethereum Spot ETFs in the USA, this time the UK is introduced to these products.

The UK's financial regulator, the Financial Conduct Authority (FCA), has taken a significant step towards aligning the UK with other financial centers in the field of digital assets by approving the first cryptocurrency ETPs.

WisdomTree Inc, a leading asset management firm, announced that it has received approval from the FCA to list a pair of hard-backed crypto ETPs following Bitcoin and #Ethereum on the London Stock Exchange. These products could begin trading as early as May 28, the company said in a press release on Wednesday.

In a separate statement, Invesco Digital Markets also confirmed that it has received approval for the Bitcoin ETP and expects transactions to begin on the same day.

A number of other issuers, including #ETC Group, 21Shares and CoinShares, have also applied to list their own crypto products in the UK. The FCA's website showing approvals listed listings from WisdomTree, 21Shares and Invesco Digital Markets Plc as of 12pm on Wednesday, the deadline to enter the first day of trading.

Although all listed products will directly hold Bitcoin or #Ethereum , they will only be available to professional investors under rules set by the FCA. This represents a stricter stance than in the US, where a new group of #Bitcoin ETFs approved in January now manage a total of $59 billion.