It won't stir up any waves.

The London Stock Exchange announced that it has begun accepting applications for listing of $BTC and $ETH ETN. Do you think this is the same good news as Bitcoin ETF? NONONO, first of all, ETN is not a new cryptocurrency derivative, it is an unsecured bond-type financial product (in other words, the income is supported by credit).

As early as 2015, Bitcoin ETN had been approved for listing by Swiss regulators. There are advantages, but not many, and there are indeed many disadvantages. In addition to brushing the issuer's face, there are also small size, poor timeliness, arbitrage interest rate is not as good as ETF, and high discount and premium rate.

The most important thing is that Bitcoin ETF has been approved. In the past, you could say that ETN is a soft substitute for ETF. Now there is still a story to show?

Oh yes, after all, the London Stock Exchange represents the pound market. I have to mention that in 2022, the British government has painted a big pie, saying that it will become a global cryptocurrency investment center and create suitable conditions for the development of the crypto world.

Well, ideals are always great, but we are not in a hurry to make direct progress. We will try our best to achieve it first.