WisdomTree’s Bitcoin, Ethereum ETPs to debut on London Stock Exchange next week

WisdomTree's Bitcoin, Ethereum ETPs to debut on London Stock Exchange next week


Share this article

WisdomTree, a global exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor, has secured the Financial Conduct Authority’s (FCA) approval to list its WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs on the London Stock Exchange (LSE), according to a press release published today. The listing, expected to occur on May 28, will initially cater exclusively to professional investors.

As previously reported by Crypto Briefing, May 28 is also expected to be the debut date of Bitcoin and Ethereum exchange-traded notes (ETNs) on the LSE.

This move positions WisdomTree among the first to receive FCA endorsement for a crypto ETP prospectus. Institutions in Europe can now gain exposure to crypto backed by Bitcoin and Ethereum, respectively, via these ETPs.

With a Total Expense Ratio (TER) of just 0.35%, WisdomTree’s upcoming crypto ETPs are among the most cost-efficient options for investors in the region.

Commenting on the latest development, Alexis Marinof, Head of Europe at WisdomTree, said the FCA approval not only facilitates easier access for UK investors but also removes the regulatory hurdles that previously discouraged investors from entering the market.

“While UK-based professional investors have been able to allocate to crypto ETPs via overseas exchanges, they will soon have a more convenient access point,” Marinof stated.

“FCA approval in this respect could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty – we would expect FCA approval of our crypto ETPs’ prospectus to remove those barriers to entry,” he added.

WisdomTree’s commitment to providing secure, regulated investment vehicles for crypto assets began in 2019 with the launch of the WisdomTree Physical Bitcoin ETP.

The firm has since expanded its offerings to encompass a suite of eight physically backed crypto ETPs. These ETPs provide exposure to both individual cryptocurrencies and diversified baskets, and are available for trading on multiple European exchanges.

In March this year, WisdomTree announced it secured the New York State Department of Financial Services (NYDFS) approval to operate as a New York limited-purpose trust company charter. This development allows WisdomTree to offer fiduciary custody of digital assets, issue DFS-approved stablecoins, and manage stablecoin reserves.

[Update with context in the second paragraph]

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest