London is bracing for an influx of crypto exchange-traded products, with enthusiasm growing among major crypto ETF providers.
Financial giants such as CoinShares, WisdomTree and ETC Group are listing their products on the London Stock Exchange (LSE) as London prepares to usher in a new era of crypto exchange traded products (ETPs). The Financial Times reported that the company is keen to pursue an opportunity to do so. Have learned.
Deregulation by the Financial Conduct Authority (FCA) represents a notable change, but criticism has arisen as the FCA still prohibits retail investors from accessing crypto ETPs on the LSE. Bradley Duke, chief strategist at ETC Group, Europe's largest crypto fund, emphasized that they are ready to introduce the product to exchanges, but also expressed hope that the retail ban will be lifted in the near future.
“The LSE is a very important market for us and we are always listing products where possible and preparations are underway. We hope that the retail ban will be lifted soon.” Bradley Duke
Other major European crypto players such as VanEck, CoinShares and WisdomTree have also expressed interest in working with the London Stock Exchange on new listing opportunities.
However, the FCA's “professional investors only” restriction failed to attract all issuers active in Europe's $14.2 billion crypto ETP market, the report said. There is. For example, Mandy Chiu, head of financial product development at 21Shares, commented positively on the approval of crypto ETPs on the LSE, calling the move “encouraging,” but said the company would continue to “monitor” the situation. '', and indeed said that he would continue to “monitor'' its movements. At the time of writing, there are no plans for any products to be listed in the UK.
As previously reported by crypto.news, the London Stock Exchange will begin accepting applications for admission for Bitcoin (BTC) and Ethereum (ETH) crypto trading notes (ETNs) in the second quarter of 2024. It is. However, the exchange notes that these products are only accessible to institutional entities such as investment companies, credit institutions, pension funds, and insurance companies.
This decision contrasts with trends seen in other countries, where retail investors are granted access to such investment vehicles. Nevertheless, the FCA's decision ends the blanket ban on ETP cryptocurrencies and brings it more closely aligned with regulatory frameworks in Europe, Australia, Brazil, Canada, and the United States.
