Ethereum
WisdomTree (WT) Gets Green Light to List Bitcoin (BTC), Ether (ETH) ETPs on LSE
Asset manager WisdomTree (WT) has obtained approval from the Financial Conduct Authority (FCA) to list crypto exchange-traded products (ETPs) on the London Stock Exchange (LSE), saying it is one of the first candidates to see its prospectus given the green light. in advance by the British regulator.
WisdomTree’s Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs are scheduled to begin trading on May 28 and will only be available to professional investors, according to an announcement on Wednesday. They will incur a fee of 35 basis points.
The New York-based company manages more than $111 billion in assets globally and its WisdomTree Bitcoin Fund (BTCW) was among those authorized in the United States to operate a spot Bitcoin ETF in January. It has offered crypto products on European exchanges since 2019.
The FCA introduced a ban on crypto derivatives products, including ETPs, in January 2020. However, with these products widely available in Europe for several years and following approvals for listing of spot ETFs in the US, the regulator adjusted his position. It maintains the ban on retail investors.