#Breaking #Bitcoin #ETF and Ethereum ETPs approved for listing on the London Stock Exchange.

Breaking New Ground in the UK Market

This approval is a significant milestone in the UK’s financial sector. It provides professional investors with greater access to cryptocurrencies through conventional financial instruments. WisdomTree, a New York-based asset manager with over $111 billion in global assets under management, is known for pioneering investment products. Its Bitcoin Fund [BTCW] was among the first spot Bitcoin ETFs approved in the U.S., highlighting its expertise and leadership in the crypto investment domain.

In a notable advance for cryptocurrency investments in the U.K., WisdomTree has been granted approval by the Financial Conduct Authority [FCA] to list two physically backed cryptocurrency exchange-traded products [ETPs] on the London Stock Exchange [LSE]. These products, WisdomTree Physical Bitcoin [BTCW] and WisdomTree Physical Ethereum [ETHW] are set to begin trading by May 28, available exclusively to professional investors

Additionally, the FCA’s approval follows years of cautious regulation of cryptocurrency investments. In January 2020, the FCA banned crypto derivatives. This includes ETPs, for retail investors to shield them from the high risks and volatility of cryptocurrencies. However, the market has evolved, with crypto ETPs gaining acceptance in Europe and the U.S.