Cryptocurrency enthusiasts have a reason to celebrate! The prestigious London Stock Exchange (LSE) is preparing to welcome exciting new arrivals. WisdomTree, a leading investment firm, has received the green light from the Financial Conduct Authority (FCA) to list its innovative cryptocurrency exchange-traded products (ETPs).
The ETP Revolution Begins
Mark your calendars! Starting May 28th, the WisdomTree Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs will kick off trading, but with a twist: initially, they’ll be available exclusively to professional investors. The good news? These FCA-approved products boast a competitive fee structure of just 35 basis points.
Unlocking Crypto for UK Investors
Alexis Marinof, the Head of Europe at WisdomTree, expressed his excitement about the FCA’s approval of their crypto ETPs. He emphasized that this approval is important for UK-based professional investors eager to add cryptocurrencies to their portfolios. Before now, these investors had to invest in crypto ETPs through offshore exchanges.
“FCA approval in this respect could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty.”
Alexis Marinof
WisdomTree Remains a Game Changer
WisdomTree is not new to the crypto ETPs market. In fact, the company established itself as a true pioneer in 2019 by launching the very first institutional-grade, physically-backed Bitcoin ETP in Europe. Since then, they’ve expanded their offerings to a total of eight unique crypto ETPs. Each product offers direct exposure to the spot prices of popular cryptocurrencies like Bitcoin and Ethereum, along with diversified crypto baskets.
European investors already had access to WisdomTree’s crypto ETPs through major exchanges like Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext in Paris and Amsterdam. These listings provided a familiar and regulated framework, mirroring the traditional ETP structure with a crypto twist.
Fueling the Crypto Fire
The crypto market is already ablaze with excitement thanks to the anticipation of spot Ethereum ETFs, the recent launch of spot Bitcoin ETFs, the return of “memecoin season,” and upcoming halving events. WisdomTree’s ETP launch on the LSE adds even more fuel to the fire, potentially propelling the market to new highs.
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