US asset manager WisdomTree has received approval from the UK Financial Conduct Authority (FCA) to list its physically-backed cryptocurrency exchange-traded product (ETP) on the London Stock Exchange (LSE), saying it is one of the first One of the applicants to have its prospectus approved by UK regulators.
According to an announcement released on Wednesday (22nd), "WisdomTree Physical Bitcoin" (BTCW) ETP and "WisdomTree Physical Ethereum" (ETHW) ETP are expected to start trading on May 28 and are only open to professional investors. These cryptocurrencies The management fee for ETP is 0.35%.
We are thrilled to announce that the Financial Conduct Authority (FCA) has approved the prospectus for our WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) ETPs. Read the press release for more info: https://t.co/4b4vXPTanm pic.twitter.com/73GObGBCMQ
— WisdomTree in Europe (@WisdomTreeEU) May 22, 2024
WisdomTree manages more than $111 billion in assets globally, and its "WisdomTree Bitcoin Fund" (BTCW) was one of the Bitcoin spot ETFs approved for issuance in the United States in January this year. The company has been offering it on European exchanges since 2019 Cryptocurrency investment products.
According to Bloomberg, other issuers such as ETC Group, 21Shares and CoinShares have also applied to list their own crypto products in the UK. ETC Group said its application was still ongoing, while the other agencies did not respond or declined to comment.
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