WisdomTree acquired FCA approval to list Bitcoin and Ethereum ETPs on the LSE, boosting institutional crypto investment opportunities.
A notable international fund manager, WisdomTree, has achieved a significant milestone in cryptocurrency investments.
The company has made public its acquisition of authorization from the Financial Conduct Authority (FCA) of the United Kingdom to list Exchange-Traded Products (ETPs) involving Bitcoin and Ethereum on the London Stock Exchange (LSE).
This action signifies a critical juncture for institutional investors in the United Kingdom pursuing regulated access to the cryptocurrency market.
WisdomTree Pioneers Crypto ETP Listing on LSE
WisdomTree recently disclosed its intentions to list physically backed Ethereum (ETHW) and Bitcoin (BTCW) ETPs on the London Stock Exchange (LSE), contingent upon FCA approval.
The company underscored its unique status as one of the initial issuers to obtain FCA authorization for cryptocurrency ETPs.
It is also a momentous achievement for the industry as a whole, in addition to the fund manager.
Particularly noteworthy is the anticipated availability of these Bitcoin and Ether ETPs for trading on May 28, with an initial focus on professional investors.
In contrast, Bitcoin and Ethereum ETPs offered by WisdomTree have a management expense ratio (MER) of a mere 0.35%.
However, this establishes them as cost-effective alternatives for institutional-grade exposure to these prominent cryptocurrencies.
WisdomTree’s Head of Europe, Alexis Marinof, described the FCA’s sanction as a turning point for investors in the United Kingdom.
Additionally, he mentioned that this could facilitate the institutionalization of crypto assets on a larger scale.
Increasing Crypto Investment Prospects
WisdomTree entered the cryptocurrency market in 2019 by introducing the WisdomTree Physical Bitcoin ETP, the first time a traditional ETP issuer provided European investors with such exposure.
Subsequently, the organization has broadened its selection of crypto ETPs to include a variety of assortment, granting investors entry to individual currencies such as Bitcoin and Ethereum and diversified crypto baskets.
WisdomTree has also played a significant role in democratizing cryptocurrency investment throughout the continent, as its ETPs are already listed on several European exchanges, including the SIX Swiss Exchange, Deutsche Borse Xetra, Euronext Paris, and Amsterdam.
The fact that these ETPs are accessible and regulated in multiple European countries demonstrates WisdomTree’s dedication to facilitating crypto investments.
The news arrives as optimism in the United States soars regarding the possibility that the U.S. SEC will approve the Spot Ethereum ETF in the coming days.
In light of the recent frenzy, the price of Ethereum also experienced substantial increases, surpassing the $3,700 threshold.
