The Financial Conduct Authority (Fca), the UK's financial regulator, has launched a new initiative to connect the UK with other financial centers for digital assets by approving the first ETS cryptocurrency.
WisdomTree Inc, a leading asset management company, announced that it has received approval from the fca to list a pair of Etp cryptocurrencies that track #bitcoin and Efirium on the London Stock Exchange. Trading in these products could begin as early as May 28, the company said in a press release Wednesday.
In a separate statement, Invesco Digital Markets also confirmed that it has received approval to issue ETCs to track bitcoin and expects transactions to begin the same day.
Many other issuers, including ETC Group, 21Shares and #CoinShares , have also applied to list #cryptocurrency products in the UK. As of 12 noon on Wednesday (the deadline for the opening of the first day of trading), announcements from WisdomTree, 21shares and Invesco Digital Markets Plc were listed on the fca's website on the list of approved products.
While all of the listed products trade bitcoin or Efirium directly, only with professional investors, according to rules set by the fca, it's a tougher position than in the United States, where a new group of bitcoin ETFs approved on May 1 currently manages a total of 590 billion yen.
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