Asset manager WisdomTree has been given the green light to launch the new ETPs, which are expected to debut on the London Stock Exchange on May 28.
Ethereum ETF: there is a green light for them to debut on the London Stock Exchange
Two new physically backed cryptocurrency exchange-traded products (ETPs) are coming to the UK. WisdomTree received approval to launch two ETPs. The administrator claims to be the first to receive the green light for a prospectus of its type in the United Kingdom.
What was reported was that WisdomTreean asset manager, obtained approval from the Financial Conduct Authority (FCA) to list two ETPs of Bitcoin and Ethereum on the London Stock Exchange (LSE).
In a press release this Wednesday, it was confirmed that both WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum They will begin trading on May 28 and They will be available only to professional investors.
“FCA approval of our crypto ETP prospectus is an important step forward for UK-based industry and professional investors seeking exposure to this asset class,” he commented. Alexis Marinof, European Director of WisdomTree.
He added that the approval “could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty; “We would expect the FCA’s approval of the prospectus for our crypto ETPs to help remove those barriers to entry.”
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
