Breaking: London Stock Exchange Approves Crypto ETP Listings!
In a major development, the Financial Conduct Authority (FCA) has approved the listing of crypto exchange-traded products (ETPs) on the London Stock Exchange (LSE)! This marks a significant milestone in the UK's regulatory environment for cryptocurrencies.
Two firms, WisdomTree and 21Shares, have received approval to list their respective ETPs: WisdomTree's Physical #Bitcoin (BTCW) and Physical #Ethereum (ETHW), and 21Shares' bitcoin (BTC) and ether (ETH) products. The LSE expects the products to start trading on May 28.
Professional Investors Only
Notably, the #FCA has decided to only allow these ETPs for professional investors, keeping the ban in place for retail investors. This decision follows a review of the regulatory environment, which was influenced by the widespread availability of crypto ETPs in Europe and the US.
Fees and Details
WisdomTree's products will come with fees of 35 basis points, while 21Shares has yet to disclose its fees. Neither Invesco nor the LSE have commented further on this development.
Stay tuned for more updates on this exciting development in the world of crypto!
