Regulation
London Stock Exchange welcomes WisdomTree cryptocurrency ETPs
Crypto traders just got another reason to stay on top. The London Stock Exchange (LSE) prepares to welcome new arrivals under the name WisdomTree secure approval from the Financial Conduct Authority (FCA) to list its new cryptocurrency exchange-traded products (ETPs).
Starting May 28, WisdomTree Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs will begin trading exclusively for professional investors. The FCA has approved these products, which feature a competitive pricing structure of just 35 basis points.
Alexis Marinof, Head of Europe at WisdomTree, expressed his excitement over the FCA’s approval of their crypto ETPs. He highlighted that this approval is important for UK-based professional investors looking to add cryptocurrencies to their portfolios. Previously, these investors had to invest in crypto ETPs through offshore exchanges.
“The FCA’s approval in this regard could lead to 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.”
-Marinof
WisdomTree is not new to the crypto ETP market. In 2019, the company established itself as a pioneer by launching the first institutional grade physical Bitcoin ETP in Europe. Since then, WisdomTree has expanded its offering to include eight distinct crypto ETPs, each providing direct exposure to the spot prices of popular cryptocurrencies such as Bitcoin and Ether and diversified crypto baskets.
WisdomTree’s crypto ETPs were already accessible to European investors through major exchanges such as Deutsche Börse Xetra, Swiss Stock Exchange SIX and Euronext in Paris and Amsterdam. These listings provided investors with a familiar and regulated framework, reflecting traditional ETPs with a crypto twist.
The crypto market is already at a bullish level thanks to the anticipation of Ethereum spot ETFs, Bitcoin spot ETFs, memecoin season and the halving. This only adds more fire to the graphics.