According to a press release, WisdomTree has become the first company to receive approval from the UK Financial Conduct Authority (FCA) for cryptocurrency ETPs. The company will launch two funds - WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW).
The funds will be available only to professional investors, and the fund management fee will be 0.35%. WisdomTree emphasized that this is one of the lowest commissions for this kind of exchange-traded funds in Europe. However, it is much higher than the US spot Bitcoin ETF.
“The FCA's approval of the prospectus for our cryptocurrency ETPs is a significant step forward for the industry and UK professional investors seeking exposure to this asset class,” the company said.
Earlier, the American cryptocurrency exchange Coinbase (NASDAQ:COIN) announced that it would launch retail futures contracts for oil and gold on June 3.
