WisdomTree will launch physical Bitcoin and Ethereum ETPs on the London Stock Exchange

2024-05-22 18:21:56

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ChainCatcher news, asset management company WisdomTree (WT) has received approval from the UK's Financial Conduct Authority (FCA) to launch cryptocurrency exchange-traded products (ETPs) on the London Stock Exchange (LSE).

According to Wednesday's announcement, WisdomTree's physically-backed Bitcoin (BTCW) and physically-backed Ethereum (ETHW) ETPs are expected to begin trading on May 28, and will be open only to professional investors, with a fee rate of 35 basis points.

WisdomTree stated that it is one of the first applicants to receive approval for a prospectus from UK regulators.

WisdomTree has a global asset management scale of over $111 billion, and its WisdomTree Bitcoin Fund (BTCW) is one of the Bitcoin spot ETFs approved in the U.S. in January. Since 2019, WisdomTree has offered cryptocurrency products on European exchanges.

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