Cryptocurrency
Bitcoin exchange-traded products begin trading on the London Stock Exchange
The UK's Financial Conduct Authority gave the go-ahead for the first bitcoin exchange-traded products (ETPs) to trade on the London Stock Exchange. WisdomTree and 21Shares, two asset managers, both put Bitcoin ETPs on the LSE today.
Just last week, the FCA said that Bitcoin ETNs could be added to the market. This allowed issuers who had been waiting for regulatory approval to bring Bitcoin ETNs to the LSE to start them today.
All of the ETNs give investors a way to bet on the price of bitcoin. At the moment, FCA rules say that only professional buyers can get to them. Alex Pollak, head of UK for 21Shares, said, "But the game-changer in the UK will be when the retail ban is lifted. Right now, there is a retail ban on trading bitcoin and ether ETNs."
The launch today is a big step forward for both Bitcoin usage and London's plans to become a centre for digital assets. There are already controlled bitcoin funds in the US, Europe, and Hong Kong, which puts pressure on the FCA to catch up.
Ophelia Snyder, co-founder of 21Shares, said, "The UK is one of the deepest and most liquid capital markets in the world."
In order to open its market, the FCA is doing it in stages. Professional investors can now buy bitcoin ETNs on the London Stock Exchange (LSE), giving them their first controlled access to crypto assets.
Share this article:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Counterfeit cigarettes drive illicit tobacco trade to highest level in a decade, new study claims
Libya’s fuel crisis offers lessons for energy security on both sides of the Mediterranean
EU Cybersecurity Act could expose member states to costly investment treaty claims, legal opinion warns
In space, we can’t defend what we can’t see
Spring semester package: Steering EU economies to increased competitiveness
Kazakhstan seeks deeper EU partnership in science, education and innovation
OceanEye: Placing the EU at the forefront of ocean observation
Outrage of Iranian exiles and opposition of MEPs to inviting Reza Pahlavi to the European Parliament
Debt, AI and Algorithms: How the bond market is being reshaped
EDF’s first-ever FSTP sub-call attracts strong interest from newcomers to EU defence funding
EU implements Palestine facility with $395 million for local banks and €2.1 million in technical assistance
EU exports of shark fins dropped in 2025
Commission approves €23 billion Italian state aid scheme to support renewable electricity production
Justice and Home Affairs Council
Give your career a real take off
Serbia’s business environment is driving its integration into the EU
Kazakhstan reforms under scrutiny at Brussels Press Club round table
Japan should face up to history and contribute more to regional peace
Ambassador calls for 'speeding up' of co-operation between EU and Kazakhstan
Timur Turlov at Smart Moves Summit 2025: How chess can transform global education
Shevtsova’s case: Out-of-court sanctions dismantling trust in Ukrainian cause
The future of European transport
Trump Vs Trueman
US 'no longer' an 'unconditional ally' for Europe - MEP
-
Health4 days agoCounterfeit cigarettes drive illicit tobacco trade to highest level in a decade, new study claims
-
Libya4 days agoLibya’s fuel crisis offers lessons for energy security on both sides of the Mediterranean
-
Law4 days agoEU Cybersecurity Act could expose member states to costly investment treaty claims, legal opinion warns
-
Space4 days agoIn space, we can’t defend what we can’t see