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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. $BTC $ETH

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.

$BTC $ETH

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Ripple CEO sees ETFs of the two cryptocurrencies with XRP as inevitable. Attending the Consensus 2024 Conference, Ripple CEO Brad Garlinghouse claimed that the next crypto ETFs will be XRP, Solana and Cardano ETFs in response to regulatory issues. Highlighting the regulatory challenges for the crypto market, Garlinghouse argued that there is a need for clarity for the sector and the issuance of ETFs for XRP, SOL and ADA will be inevitable. In his speech at Consensus 2024, Ripple CEO Brad Garlinghouse pointed out that a new era of crypto ETFs will begin with the stabilization of spot Bitcoin ETFs and the recent launch of spot #Ethereum ETFs. Garlinghouse was very hopeful that, based on the current trend, the next #ETF products could be XRP, SOL and ADA-backed. On the other hand, Ripple CEO, who does not ignore that there will be regulatory difficulties in this process, thinks that there is no insurmountable problem for these ETFs. Because it is thought that crypto assets have recently gained general acceptance in traditional financial markets. The future of XRP is eagerly awaited XRP continues to be significantly affected by Ripple's lawsuit with the SEC. While there have been notable developments this year in the case, which is seen as the biggest obstacle to cryptocurrency, it is thought that the process has finally come to an end. Market participants think that if Ripple survives the lawsuit with minimal damage, #XRP can gain a significant increase in value. So much so that Ripple has important promises related to XRP after the conclusion of its case with the SEC. While addressing regulatory challenges, Brad Garlinghouse lamented that the SEC lacks clear regulations on the crypto space. Citing the SEC as an example, which refrained from making a clear statement about whether the asset was a security or not, even regarding Ethereum, which received Spot #ETF approval, Garlinghouse described this uncertainty as a big problem. $BTC $XRP
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Frequently Asked Questions About Cardano (ADA) and Ripple (XRP) Found Answered: Is 1 Dollar a Dream? Ripple's XRP has been showing more strength than Cardano's ADA lately but continues to trade in a bearish range. Although XRP rebounded above $0.5, it remains in a bearish pennant formation, potentially signaling further declines. A Prize Pool Worth 21 Million TL is Awaiting You from BinanceTR! Participating and winning has never been easier. Sign up to BinanceTR from this link and get your first crypto! The initial expectation was that prolonged consolidation could lead to a significant breakout, but the current market environment shows passive behavior and low trading activity from the bulls. This may cause the stagnant trend to continue. The price chart on the long-term time frame reveals that XRP has slipped out of the bullish range and is struggling to regain previous levels. Over-consolidation increased the likelihood of a bearish flag forming, potentially leading to a break below the support level at $0.4. While technical indicators such as the Relative Strength Index (RSI) show no significant change, the Moving Average Convergence/Divergence (MACD) is in a bearish trend with low volume, indicating a lack of bullish momentum. Therefore, the possibility of a pullback or continued consolidation outweighs a bullish scenario. Price movements of Cardano's ADA remained stagnant, causing investors to lose interest. This lack of interest makes it difficult for ADA to regain momentum and reach $1. ADA is consolidating along an ascending trend line at $0.517, just below the 0.5 Fibonacci retracement level. However, the On-Balance Volume (OBV) is in a steep downtrend, which is a potential sign of a continuation of the downtrend. If the bulls remain passive, the price could fall below the trend line, breaking the support below $0.4. $BTC $ADA $XRP
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XRP, BTC and ETH analysis: Will the rise begin? The cryptocurrency market has left behind a very active month. In May, BTC increased by 11 percent, XRP by 3.40 percent and ETH by 24.83 percent. The Spot Ethereum ETF agenda has differentiated #ETH from other cryptocurrencies. BTC, shaken by Mt Gox, the US Fed's interest policy and hacking scandals, failed to break the $ 70,000 resistance. XRP, on the other hand, could not make its investors happy. After all these processes, eyes turned to June. Coinpedia included important details in its chart analysis for XRP, BTC and ETH. One of the altcoins that crypto investors expected the most and were most disappointed with was XRP. XRP could not make the expected rise in its long-standing upward trend. Although the lawsuit process with the #SEC continues, #BTC could not reach $ 1 in the scenario where it reached its all-time high. Coinpedia touched on the inadequacy of XRP in its chart analysis for June. XRP experienced an increase of only 0.25 percent in the past day. The popular altcoin experienced a 3 percent decline and increased volatility last week. XRP, which showed a weak performance compared to other altcoins in May, has lost 15.59 percent in value since the beginning of the year. According to the analysis, #XRP , 50 and 200-day moving averages act as resistance. This makes the rise of XRP difficult. MACD, a technical indicator, is trending flat with the average showing a neutral trend. This creates uncertainty about the future mobility of XRP. If the bulls gain strength, XRP could be seen surpassing the $0.5340 resistance. In this scenario, the $0.60 resistance will play an important role. If the major resistance point at $0.60 is crossed, $0.6575 can be seen. XRP, which is weakening day by day, may test the $ 0.48 support in a possible decline scenario. #XRP may drop to $0.42 in a short time if this support point is broken. $BTC $ETH $XRP
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