Breaking News: WisdomTree’s Crypto ETPs Approved for London Stock Exchange
A leading asset manager, WisdomTree, has received approval from the Financial Conduct Authority (FCA) to list its Bitcoin and Ethereum exchange-traded products (ETPs) on the London Stock Exchange (LSE). This milestone allows professional investors to access cryptocurrency investments through regulated channels.
London Stock Exchange Welcomes Crypto ETPs
– WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) will begin trading on May 28
– These ETPs are designed exclusively for professional investors with a management expense ratio of 0.35%
The recent policy adjustment by the FCA, relaxing restrictions on crypto products, has paved the way for this development. In March 2024, the regulator announced it would allow financial institutions to list ETPs for professional investors while restricting them for retail investors.
“The FCA approval of our crypto ETPs’ prospectus is a significant step forward for the industry and UK-based professional investors seeking exposure to the asset class,” said Alexis Marinof, WisdomTree’s Head of Europe.
WisdomTree’s Role in Crypto Investment Expansion
– WisdomTree’s ETPs are physically backed, holding Bitcoin and Ethereum directly
– 88 Crypto ETPs manage a total of $12,705.34 million in assets, with Bitcoin and Ethereum accounting for over 73%
– WisdomTree Physical Bitcoin ETP ranks second in the top 10 Crypto ETPs by net flows
Since the launch of the WisdomTree Physical Bitcoin ETP in 2019, the company has expanded its offerings to cater to various investment strategies and risk appetites in the crypto market. The listings across major European exchanges demonstrate the growing demand and acceptance of crypto assets.
Hot Take: Embracing Crypto Investment Through ETPs
Crypto investments are expanding their reach with ETPs like WisdomTree’s gaining approval for the London Stock Exchange. Professional investors now have a regulated channel to access Bitcoin and Ethereum investments, reflecting the growing acceptance of cryptocurrencies in the traditional financial sector.
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