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UK regulatory approval paves the way for greater adoption of #cryptocurrencies in the institutional sector.
WisdomTree offers low-cost, physically secured ETPs for #MemeWatch2024 and Efirium on the London Stock Exchange.
SEC approval of bitcoin ETPs in the US has led to their introduction in other countries.
WisdomTree has received approval from the Financial Conduct Authority (FCA) to list its bitcoin (BTCW) and etherium (ETHW) backed listed products (ETPs) on the London Stock Exchange (LSE), allowing UK institutional investors access to cryptocurrencies.
The listing, scheduled for April 28, comes just 2 months after the initial LSE announcement, and WisdomTree will be one of the first issuers to list Etp #cryptocurrency at the fca 1 level.
These physically secured ETPs boast a competitive management expense ratio (MER) of 0.35%, making them one of the most affordable institutional-level cryptocurrencies in Europe 1.
Reacting to the news, Alexis Marinof, Head of Europe at Wisdomtree, emphasized that the listing is essential for the growth of the industry and will increase cryptocurrency participation in the UK market. he said:
"FCA approval in this regard could lead to greater institutional adoption of this asset class, as many professional investors have been unable to access bitcoin and other cryptocurrencies due to regulatory restrictions and uncertainty. We expect that with the FCA's approval of the Etp cryptocurrency prospectus, these barriers to entry will be removed.
WisdomTree has pioneered institutional-grade cryptocurrency products in Europe, launching the first physical bitcoin-ETP in 2019. The company currently offers a diverse portfolio of 8 physically backed cryptocurrency ETPs, including both single assets and a diverse cryptocurrency basket.
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