London Stock Exchange to start accepting bitcoin, ether ETN applications in Q2
The London Stock Exchange will start accepting applications for bitcoin and ether crypto exchange-traded notes (ETNs) in the second quarter of this year.Such crypto ETNs would allow investors to trade securities that track crypto assets on the exchange.
The LSE said in the statement that it will take applications following a factsheet it previously published. “The exact launch date will be confirmed in due course,” the LSE said.
“In order to mitigate the risk of delay in the admission timetable, the Exchange encourages early engagement from prospective issuers interested in admitting Crypto ETNs to trading on the Exchange,” the LSE added in the admission factsheet. The crypto ETNs would only be available for professional investors, according to the factsheet.
This comes as UK’s Financial Conduct Authority (FCA) stated that it will not oppose proposals from Recognized Investment Exchanges (RIEs) to create a listed market segment for cryptocurrency-backed exchange-traded notes (ETNs).
ETNs are debt securities that provide exposure to an underlying asset, according to the document. Crypto ETNs allow investors to trade securities that track crypto assets on the exchange during London trading hours.
The LSE’s move comes after the U.S. spot bitcoin exchange-traded funds (ETFs) have gained popularity since its launch in January. On Friday, the cumulative trading volume for U.S. spot bitcoin ETFs surpassed $100 billion to reach $106.59 billion, according to Yahoo Finance data compiled by The Block.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
With capital outflows from crypto ETFs, can issuers like BlackRock still make good profits?
BlackRock's crypto ETF fee revenue has dropped by 38%, and its ETF business is struggling to escape the cyclical curse of the market.
Incubator MEETLabs today launched the large-scale 3D fishing blockchain game "DeFishing". As the first blockchain game on the GamingFi platform, it implements a dual-token P2E system with the IDOL token and the platform token GFT.
MEETLabs is an innovative lab focused on blockchain technology and the cryptocurrency sector, and also serves as the incubator for MEET48.
Electricity theft exceeds $1 billion, Malaysian bitcoin miners face severe crackdown
In Malaysia, the crackdown on illegal bitcoin mining gangs has turned into a game of cat and mouse.
2025 Crypto Prediction Review: 10 Institutions, Who Got It Wrong and Who Became Legends?
We can consider these predictions as indicators of industry sentiment. If you use them as an investment guide, the results could be disastrous.
Trending news
MoreWith capital outflows from crypto ETFs, can issuers like BlackRock still make good profits?
Incubator MEETLabs today launched the large-scale 3D fishing blockchain game "DeFishing". As the first blockchain game on the GamingFi platform, it implements a dual-token P2E system with the IDOL token and the platform token GFT.
Crypto prices
More
