The London Stock Exchange has bitcoin-and-ethereum-etns-0ru4pz13dx7so39.html”>Announced which will accept applications for the admission of bitcoin crypto Exchange-Traded Notes (ETN) starting April 8, 2024. This decision follows the Exchange's previous notice on March 11, indicating its intention to allow trading of crypto ETN in the second quarter. of the year.
ONLY IN: The London Stock Exchange will launch a market for bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin notes traded on the stock exchange on May 28. pic.twitter.com/hEStU4xUrc
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Subject to the approval of the base prospectuses by the Financial Conduct Authority (FCA), the Exchange plans to begin trading these ETNs on Tuesday, May 28, 2024. This measure aims to ensure maximum participation of issuers in the first day of trading and allow issuers sufficient time to prepare their documentation and comply with regulatory requirements.
“We have decided to launch the crypto ETN market on May 28, 2024 to allow the maximum number of issuers to be present in the market on the first day of trading,” the notice said. “In choosing this date, we have taken into consideration that we need to ensure that issuers meet the consideration requirements detailed in the crypto ETN fact sheet and, more importantly, it will also allow those issuers who plan to admit securities to the launch date, time to prepare documentation “Establish a crypto ETN program that will require the FCA to approve a base prospectus.”
Issuers interested in listing securities on the Main Market on May 28 must submit the necessary information to the Exchange by April 15. This includes details on how the issuer and/or ETN will meet the requirements outlined in the crypto ETN. fact sheet and a draft base prospectus highlighting relevant disclosures.
However, issuers that do not meet the specified requirements, submit their applications after April 15, or have their base prospectus not approved by the FCA by midday on May 22, 2024, will not be eligible to participate on the first day of negotiation.
