{"id":73329,"date":"2024-03-11T08:00:35","date_gmt":"2024-03-11T12:00:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73329"},"modified":"2024-03-11T08:00:38","modified_gmt":"2024-03-11T12:00:38","slug":"lse-to-accept-bitcoin-ethereum-exchange-traded-notes","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/lse-to-accept-bitcoin-ethereum-exchange-traded-notes\/","title":{"rendered":"LSE to Accept Bitcoin, Ethereum Exchange Traded Notes"},"content":{"rendered":"\n

The London Stock Exchange (LSE) announced it will begin accepting applications for Bitcoin and Ether crypto exchange-traded notes<\/a> (ETNs) by the second quarter of 2024 the exchange.<\/p>\n\n\n\n

\"LSE
LSE to Accept Bitcoin, Ethereum Exchange Traded Notes<\/figcaption><\/figure>\n\n\n\n

The exchange affirmed on March 11 that it would accept applications per the criteria outlined in its Crypto ETN Admission Factsheet. Nevertheless, the date the exchange will commence accepting applications remained undisclosed.<\/p>\n\n\n\n

The exchange stated in the fact sheet that crypto ETNs must be non-leveraged and tangibly backed. A market price or value measure of the underlying asset publicly accessible and supported by Bitcoin or Ether is required.<\/p>\n\n\n\n

Additionally, the exchange emphasized the importance of storing the fundamental crypto assets “wholly or principally” in a cold wallet or an analogous solution. Additionally, a custodian subject to anti-money laundering regulations in the United Kingdom<\/a>, the European Union, Switzerland, or the United States should hold the assets.<\/p>\n\n\n\n

ETNs are defined by the exchange as “debt securities that offer exposure to the underlying asset.” Crypto ETNs enable investors to trade securities that follow the performance of crypto assets during the exchange's trading hours.<\/p>\n\n\n\n

Widely recognized as a gentle substitute for exchange-traded funds (ETFs), ETNs are mild alternatives. ETNs, in contrast to ETFs, are debt instruments issued by issuers and are not collateralized by a pool of assets. Mutual funds frequently overlook esoteric debt strategies, which are the focus of ETFs.<\/p>\n\n\n\n

In the meantime, the Financial Conduct Authority (FCA) of the United Kingdom declared that it would not oppose Recognised Investment Exchanges' (RIEs) requests to establish a market segment for crypto-backed ETNs\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. <\/p>\n\n\n\n

Exchanges may offer the products to “professional investors,” which includes credit institutions and investment firms authorized or regulated to operate in financial markets, per the FCA.<\/p>\n\n\n\n

Additionally, the financial watchdog urged exchanges to implement adequate safeguards to secure investors. The FCA further stated that crypto-backed ETNs must comply with U.K. listing regime requirements, including ongoing disclosure and prospectuses.<\/p>\n\n\n\n

Although exchanges may provide ETNs to institutions, the FCA has deemed them inappropriate for retail investors due to their inherent risks. The regulator maintained the prohibition on selling crypto-backed ETNs to retail customers. “The FCA maintains that cryptoassets are largely unregulated and high-risk investments.” “Investors must be willing to forfeit their entire capital,” the regulator wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"

The London Stock Exchange (LSE) announced it will begin accepting applications for Bitcoin and Ether crypto exchange-traded notes (ETNs) by the second quarter of 2024 the exchange. The exchange affirmed on March 11 that it would accept applications per the criteria outlined in its Crypto ETN Admission Factsheet. Nevertheless, the date the exchange will commence […]<\/p>\n","protected":false},"author":12,"featured_media":63674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[15019,8138,13131,3865],"class_list":["post-73329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-3","tag-ether-3","tag-etns-2","tag-lse"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/11\/image-17.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73329"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/63674"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}