The well-known international fund manager WisdomTree has advanced notably in bitcoin investing. The company has said that the Financial Conduct Authority (FCA) of the United Kingdom has granted permission for it to list Ethereum and Bitcoin Exchange-Traded Products (ETPs) on the London Stock Exchange (LSE). This action represents a turning point for institutional investors looking to gain exposure to the cryptocurrency market through regulated channels in the United Kingdom.
Bitcoin (BTCW) ETPs Listing on the LSE, WisdomTree
Following FCA permission, WisdomTree has revealed its intentions to launch physically-backed Ethereum (ETHW) and Bitcoin (BTCW) ETPs on the London Stock Exchange (LSE). The company highlighted that it was among the first to get FCA certification for cryptocurrency ETPs.
It represents a noteworthy achievement for the fund manager and the industry as a whole. Notably, it is anticipated that these ETPs for Bitcoin and Ether will be traded starting on May 28 and marketed primarily to experienced investors.
In contrast, WisdomTree’s Ethereum and Bitcoin ETPs have a management expense ratio (MER) of just 0.35%. They are presented as affordably priced alternatives for institutional-grade exposure to these top cryptocurrencies.
WisdomTree’s Head of Europe, Alexis Marinof, praised the FCA clearance as a turning point for investors in the United Kingdom. He added that it might open the door for institutional use of cryptocurrency assets to become more widespread.
Increasing Investment Opportunities in Cryptocurrencies
WisdomTree entered the cryptocurrency space in 2019 with the launch of the WisdomTree Physical Bitcoin ETP, the first traditional ETP issuer to provide European investors with this kind of exposure. Since then, the company has added a wide selection of products to its cryptocurrency exchange-traded funds (ETPs), giving investors access to diversified crypto baskets and individual coins like Bitcoin and Ethereum.
Additionally, WisdomTree has played a significant role in democratizing cryptocurrency investment throughout the continent, with its ETPs already listed on several European exchanges, including Deutsche Börse Xetra, SIX Swiss Exchange, and Euronext Paris and Amsterdam. These ETPs’ accessibility across several European nations demonstrates WisdomTree’s dedication to offering regulated and easily accessible cryptocurrency investing opportunities.
The announcement coincides with a wave of hope that the U.S. SEC would approve the Spot Ethereum ETF in the next few days. In light of the recent excitement, the price of Ethereum saw notable increases as well, crossing the $3,700 threshold.
