[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"26979980-6479-4f5b-bc22-8129a25b8afb","updated_at":"2024-05-29T03:41:40.496+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"May 28th marked the first Bitcoin and Ethereum exchange-traded products (ETPs) listings on stock exchanges in the United Kingdom.","sapo":"Following new U.S. regulations on crypto exchange-traded funds (ETFs), the first batch of Bitcoin and Ethereum ETPs debuted on the London Stock Exchange after getting the greenlight from UK’s Financial Conduct Authority (FCA).","title":"Big Day For UK Crypto: First Bitcoin and Ethereum ETPs Now Trading on London Stock Exchange","content":"

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Bitcoin And Ethereum ETPs Launched In The UK

In an earlier announcement, major financial managers including WisdomTree Inc., 21Shares, and Invesco Digital Markets reported receiving approval from the UK's Financial Conduct Authority (FCA) to list Bitcoin and Ethereum exchange-traded products on the London Stock Exchange (LSE) starting May 28.

Other asset management firms, including ETC Group and CoinShares, have also filed their applications to list crypto ETPs on London’s stock market.

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However, the FCA has restricted access to ETPs to professional investors only, citing concerns over the potential dangers these digital assets may pose to retail consumers. This decision stands in contrast to the global trend on other major stock exchanges, where crypto ETPs are often available to both retail and institutional investors.

Moreover, all crypto funds listed on the LSE will be in the form of Bitcoin and ether exchange-traded notes (ETNs), similar to other European cryptocurrency markets.

The crypto ETP listings in the UK follows landmark regulatory decisions by the US Securities and Exchange Commissions (SEC) to approve spot Bitcoin and Ether ETFs on major exchanges.

ETPs, short for exchange-traded products, including exchange-traded funds (ETFs), exchange-traded notes (ETNs) and others, are financial instruments traded throughout the day like a stock on major national exchanges. ETNs, like ETFs, track the performance of a benchmark index or asset, but they more closely resemble a bond, i.e., an unsecured debt note issued by a bank.

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Big Day For UK Crypto: First Bitcoin and Ethereum ETPs Now Trading on London Stock Exchange

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