Financial Conduct Authority grants approval for Bitcoin and Ethereum ETPs
The UK's Financial Conduct Authority (FCA) has granted asset management firm WisdomTree approval to list Bitcoin and Ethereum exchange-traded products (ETPs) on the London Stock Exchange. This decision will allow the company, which has $111 billion in assets under management, to offer these products to professional investors starting May 28.
Change in the regulator’s approach
WisdomTree has highlighted that its Bitcoin ETP is one of the first to have its prospectus accepted by the FCA, highlighting a significant shift in the regulator's approach to cryptocurrency-based products.
Wider acceptance of Bitcoin ETFs
The regulatory approval by the FCA is seen as a step that could encourage institutional adoption and investment in Bitcoin in the UK by reducing regulatory uncertainties and barriers. This move reaffirms Bitcoin's growing legitimacy as a permanent part of the financial landscape.
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