Crypto News Today- WisdomTree to List Bitcoin and Ether ETPs on London Stock Exchange

WisdomTree to List Bitcoin and Ether ETPs on London Stock Exchange

Crypto News– WisdomTree (WT) has obtained approval from the Financial Conduct Authority (FCA) to list crypto exchange-traded products (ETPs) on the London Stock Exchange (LSE). The company announced that it is one of the first applicants to have its prospectus approved by the U.K. regulator.

WisdomTree’s Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs are scheduled to commence trading on May 28, exclusively available to professional investors. These products will carry fees of 35 basis points.

With over $111 billion of assets under management worldwide, the New York-based firm’s WisdomTree Bitcoin Fund (BTCW) was among those approved in the U.S. to operate a spot bitcoin ETF in January. WisdomTree has been offering crypto products on European exchanges since 2019. The FCA, in March, announced its non-objection to requests from financial institutions seeking to list ETPs for professional investors. The LSE confirmed its acceptance of applications for bitcoin (BTC) and ether (ETH) products in the second quarter.

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Asset Manager WisdomTree Receives FCA Approval to List Crypto ETPs on London Stock Exchange

The FCA has also approved prospectuses from 21Shares and Invesco, as per the FCA website. Neither firm immediately responded to CoinDesk’s request for further comment.

In January 2020, the FCA introduced a ban on crypto derivatives products, including ETPs. However, given the widespread availability of such products in Europe for several years and following the approval of spot ETF listings in the U.S., the regulator has adjusted its stance. The ban remains in place for retail investors.

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