London Stock Exchange debuts UK's 1st Bitcoin and Ethereum ETPs 🚀📈

A Game-Changing Moment for the London Stock Exchange

The London Stock Exchange (LSE) has made history by officially launching the trading of Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs), marking a significant turning point in the world of traditional finance embracing cryptocurrencies.

Introduction of ETH and BTC ETNs on the London Stock Exchange

The LSE has started trading Bitcoin and Ethereum ETNs, effective from 28th May 2024.
Products from WisdomTreeEU and 21Shares are welcomed for trading.

Understanding ETNs and ETPs

ETNs, a type of exchange-traded product (ETP), differ from exchange-traded funds (ETFs) as they are debt-carrying vehicles tracking an index, not backed by underlying assets.

100% Backed ETPs on the London Stock Exchange

Approved ETP creators like WisdomTree are offering 100% physically backed ETNs like WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum.
These products will only be available to professional investors initially.

Entry of 21Shares in the UK Market

21Shares, the largest issuer of crypto ETPs globally, has introduced four physically backed crypto-asset ETNs on the LSE for professional investors.
Each ETN is listed in both GBP and USD, marking 21Shares’ official debut in the UK market.

Commencement of Trading

All six ETN products, including those from WisdomTree and 21Shares, are now actively trading on the London Stock Exchange, opening up new avenues for investors.

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Featured Image: Shutterstock/delcarmat

Hot Take: Embracing Crypto in Traditional Finance

The London Stock Exchange’s introduction of Bitcoin and Ethereum ETNs signifies a significant shift towards mainstream adoption of cryptocurrencies within traditional financial systems. This move not only enhances the accessibility and legitimacy of digital assets but also sets a precedent for other major exchanges to follow suit in integrating crypto products.