Bitcoin ETPs Debut on London Stock Exchange

Bitcoin exchange-traded products from WisdomTree and 21Shares have started trading on the London Stock Exchange, marking the UK's first regulated Bitcoin ETPs.
Bitcoin ETPs Debut on London Stock Exchange

Key Takeaways

  • Bitcoin ETPs from WisdomTree and 21Shares debut on LSE.
  • ETNs currently accessible only to professional investors under FCA rules.
  • UK aims to become a digital asset hub with this milestone.

Bitcoin exchange-traded products (ETPs) from WisdomTree and 21Shares began trading on the London Stock Exchange today, following approval from the UK’s Financial Conduct Authority (FCA).

This marks the first time regulated Bitcoin ETPs have been listed in the UK.

The FCA’s approval last week paved the way for today’s launch. 21Shares introduced two Bitcoin products: the 21Shares Bitcoin ETN (ABTC) and 21Shares Bitcoin Core ETN (CBTC). WisdomTree listed its Physical Bitcoin ETN (BTCW).

These ETNs provide exposure to Bitcoin’s price and are currently available only to professional investors under FCA regulations.

Alex Pollak, head of UK for 21Shares, commented on the broader impact, stating:

The game-changer in the UK will be when the retail ban is lifted; there is a retail ban on trading bitcoin and ether ETNs at the moment.

Today’s listings signify a significant step for Bitcoin adoption and London’s goal of becoming a digital asset hub.

Other major financial centers, including the US, Europe, and Hong Kong, already offer regulated Bitcoin funds, which has pressured the FCA to keep pace.

Ophelia Snyder, co-founder of 21Shares, highlighted the UK’s market potential, stating:

The UK is one of the deepest, most liquid capital markets in the world.

The FCA is adopting a phased approach to market opening, starting with allowing professional investors regulated access to crypto assets on the LSE.

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