ChainCatcher news, yesterday the London Stock Exchange opened trading for cryptocurrency exchange-traded notes (ETNs), but only 200 shares were traded on the first day.Charlie Morris, head of ByteTree, stated: "This is a very strange situation. There was no warning or public relations. It makes no sense; I just hope it's an appetizer before retail approval. But these are not funds; they are just new share classes of existing German and Swiss Bitcoin ETFs."It is reported that the current ETNs are limited to purchase by regulated financial investors, excluding retail traders.Previous news, the London Stock Exchange confirmed that it will launch trading for Bitcoin and Ethereum cryptocurrency exchange-traded funds (ETNs) on May 28, 2024.

ChainCatcher news, data tracked by ByteTree Asset Management shows that this month, the number of tokens held by closed-end funds and exchange-traded funds (ETFs) focused on spot and futures in Europe, the United States, and Canada decreased by 16,560 BTC (approximately $409 million), now totaling 826,113 BTC, reaching a 17-month low. The decline in fund balances indicates a lack of institutional participation in the recent rise of Bitcoin prices. The decrease in fund holdings suggests a lack of institutional involvement in Bitcoin's recent surge, but it does not necessarily mean that the price rebound is weak and unsustainable; there are other sources of demand pushing prices higher. (CoinDesk)