London Stock Exchange launches first Bitcoin exchange-traded products
The London Stock Exchange (LSE) has launched its first Bitcoin exchange-traded products (ETPs) following approval by the UK Financial Conduct Authority (FCA). Asset managers WisdomTree and 21Shares have launched these Bitcoin ETPs.
New Bitcoin ETPs on the market
21Shares has launched two products: the 21Shares Bitcoin ETN (ABTC) and the 21Shares Bitcoin Core ETN (CBTC). WisdomTree has launched the WisdomTree Physical Bitcoin ETN (BTCW).
Regulated investment opportunities for professional investors
The Bitcoin ETPs are designed to track the price of Bitcoin and are currently only available to professional investors, in accordance with FCA regulations. The launch of these products marks a significant step in the integration of Bitcoin into a regulated financial system and positions London as an emerging hub for digital assets.
London in line with other financial centres
The UK is now in line with other leading financial centres such as the US, Europe and Hong Kong that already offer regulated Bitcoin investment options. The FCA plans to take a phased approach to opening up its market, starting with these ETNs to provide professional investors with regulated access to crypto assets on the LSE. The broader impact of these listings will be amplified once the current restrictions on retail trading of Bitcoin and Ether ETNs are lifted.
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