Bitcoin Exchange Traded Products Debut on London Stock Exchange

bitcoin exchange-traded products (ETPs) from WisdomTree and 21Shares have officially started trading on the London Stock Exchange (LSE). This event marks an important milestone as these are the first regulated bitcoin ETPs to list in the UK.

First Regulated bitcoin ETPs Listed in UK by WisdomTree and 21Shares

Last week, the UK's Financial Conduct Authority (FCA) approved the listing of bitcoin exchange-traded notes (ETNs) on the LSE. This regulatory clearance allowed asset managers WisdomTree and 21Shares to launch their bitcoin ETPs on the exchange today. The FCA approval had been eagerly awaited by issuers waiting for the green light to bring bitcoin ETNs to the LSE.

21Shares has introduced two bitcoin products to the market: the 21Shares bitcoin ETN (ABTC) and the 21Shares bitcoin Core ETN (CBTC). At the same time, WisdomTree launched its physical bitcoin ETN (BTCW). These ETNs offer exposure to the price of bitcoin, but under current FCA regulations, they are only accessible to professional investors. Alex Pollak, UK director of 21Shares, said:

The turning point in the UK will come when the retail ban is lifted; There is currently a retail ban on trading bitcoin and ethereum ETNs.

Today's launch is a pivotal moment for both bitcoin adoption and London's ambitions to establish itself as a digital asset hub. Other major financial centers, including the United States, Europe and Hong Kong, have already regulated bitcoin funds, putting pressure on the FCA to keep pace.

Ophelia Snyder, co-founder of 21Shares, highlighted the importance of the UK market by stating:

The UK is one of the deepest and most liquid capital markets in the world.

The FCA's phased approach to opening its market allows professional investors to gain regulated exposure to crypto assets on the LSE for the first time.

The introduction of these bitcoin ETPs on the LSE is not only a testament to the growing acceptance of digital assets, but also a strategic move to position London as a leading hub for digital finance. As the regulatory landscape continues to evolve, the potential lifting of the retail ban could further transform the market, making bitcoin and other digital assets more accessible to a broader range of investors.

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