WisdomTree, a global provider of exchange-traded funds (ETFs) and exchange-traded products (ETPs), has made history by being one of the first issuers to have its crypto ETPs listed on the London Stock Exchange (LSE). This achievement comes after receiving approval from the British Financial Conduct Authority, signaling a significant milestone for the industry and professional investors based in the U.K.
In a recent blog post on May 22, Alexis Marinof, head of Europe at WisdomTree, highlighted the significance of this approval, describing it as a major advancement for the industry in the U.K. Marinof acknowledged that regulatory constraints and uncertainties had previously hindered many professional investors from accessing Bitcoin and other cryptocurrencies. However, with the FCA’s green light, these obstacles are expected to decrease.
Notably, WisdomTree’s crypto ETPs are already listed on various other stock exchanges such as Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext exchanges in Paris and Amsterdam. The company’s Bitcoin (BTCW) and Ethereum (ETHW) ETPs are set to commence trading on May 28.
It is important to mention that the crypto exchange-traded notes (ETNs) planned for trading on the LSE are exclusively available to professional investors and will operate within specific trading segments. Each crypto ETN may offer up to three different currency options, providing investors with greater flexibility to diversify their exposure to cryptocurrencies through traditional financial markets.
In related news, ETC Group, CoinShares, and WisdomTree are gearing up to list additional crypto ETPs on the London Stock Exchange, further solidifying the growing presence of digital assets in the financial sector.