FCA Clears WisdomTree’s Bitcoin and Ether ETPs for Listing
- The FCA has approved WisdomTree’s prospectus for crypto ETPs.
- The approval comes after the regulator recently reversed its stance on crypto ETPs.
- Following the approval, WisdomTree will list its products at “the earliest date possible.”
The Financial Conduct Authority (FCA) has approved WisdomTree’s prospectus for crypto exchange-traded products, allowing the asset manager to be among the pioneering issuers of Bitcoin and Ether ETPs in the United Kingdom.
WisdomTree’s approval comes after the FCA hinted on March 11 that it would likely allow Recognized Investment Exchanges (RIEs) to launch crypto ETPs for professional investors provided the exchanges “continue to make sure sufficient controls are in place.”
WisdomTree Secures FCA’s Nod
According to a press release dated May 22, the FCA has approved WisdomTree’s 100% physically backed Bitcoin and Ethereum ETPs for listing on the London Stock Exchange (LSE) at the “earliest date possible,” expected to be on May 28.
Sponsored
The ETPs, which will have a management expense ratio (MER) of 0.35%, will only be available to UK-based professional investors, who, until recently, could only access such products via overseas exchanges.
WisdomTree’s Head of Europe, Alexis Marinof, lauded the approval, noting that it was a significant leap for the UK’s crypto industry in fostering adoption.
Read More
XRP Lawsuit Close to Climax? Here’s What We Know
Crypto Exchange Fees Comparison 2024: Who Has the Lowest Trading Fees?
HBAR Takes Over Qatar with $50M Digital Assets Venture Studio
The development underscores WisdomTree’s reputation as a pioneer digital assets ETP issuer in Europe. The asset manager has listed crypto ETPs on the Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext exchanges in Paris and Amsterdam.
Sponsored
Read why Chinese crypto fraud victims are demanding a refund from the UK:
Chinese Crypto Fraud Victims Demand Return of £3B from UK
Stay updated on Coinbase’s latest initiative in the UK:
Coinbase Integrates Apple Pay for crypto purchases in the UK
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Vancouver’s mayor proposes creating a Bitcoin reserve to strengthen the city’s finances
Crypto Market Awaits Trump To Take Office, Traders Grab SOL, XRP And Lunex For Explosive Growth
XRP price soars to 43-month highs, but is the rally over for now?
Top Economist Doubles Down on Bitcoin Criticism Despite $100K Milestone in Sight