WisdomTree Secures FCA Approval To List Bitcoin And Ethereum ETPs On LSE
WisdomTree has been approved by the UK’s Financial Conduct Authority (FCA) to list its Physical Bitcoin and WisdomTree Physical Ethereum exchange-traded products on the London Stock Exchange.
The FCA approval removes investment barriers for the crypto ETPs industry and UK-based professional investors seeking exposure to the asset class.
The ETPs will have a management expense ratio of 0.35%, one of the lowest fee levels for institutional-grade bitcoin and ethereum ETPs in Europe.
However, crypto ETNs in the UK will only be available to professional investors due to the ban on retail access.
A spokesperson for CryptoUK, expressed satisfaction with the FCA’s approval of some providers to list physically-backed bitcoin and ether ETPs on the LSE but emphasized the need for more crypto-related instruments available to both institutional and retail investors in the UK.
(With inputs from Shikha Singh)
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