London Stock Exchange Welcomes WisdomTree’s Cryptocurrency ETPs

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Crypto bulls have just gotten yet another reason to remain on top. The London Stock Exchange (LSE) is set to welcome newcomers as WisdomTree secures approval from the Financial Conduct Authority (FCA) to list its novel cryptocurrency exchange-traded products (ETPs).

Starting May 28, the WisdomTree Physical Bitcoin (BTCW) and Physical Ethereum (ETHW) ETPs will commence trading exclusively for professional investors. The FCA has approved these products, which feature a competitive fee structure of just 35 basis points.

Alexis Marinof, the Head of Europe at WisdomTree, expressed his excitement about the FCA’s approval of their crypto ETPs. He emphasized that this approval is important for UK-based professional investors eager to add cryptocurrencies to their portfolios. Before now, these investors had to invest in crypto ETPs through offshore exchanges.

“FCA approval in this respect could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty.”

— Marinof

WisdomTree is not new to the crypto ETPs market. In 2019, the company established itself as a pioneer by launching the first institutional-grade physically-backed Bitcoin ETP in Europe. Since then, WisdomTree has expanded its offerings to include eight distinct crypto ETPs, each providing direct exposure to the spot prices of popular cryptocurrencies such as Bitcoin and Ether and diversified crypto baskets.

WisdomTree’s crypto ETPs were already accessible to European investors through major exchanges like the Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext in Paris and Amsterdam. These listings provided investors with a familiar and regulated framework, mirroring traditional ETPs with a crypto twist.

The crypto market is already on a bull high thanks to spot Ethereum ETF anticipation, the spot Bitcoin ETFs, memecoin season, and halving. This just adds more fire to the charts.