London Stock Exchange to Accept Bitcoin and Ethereum ETN Listings

LSE signboard and Bitcoin

The London Stock Exchange has announced its decision to accept listing applications for Bitcoin and Ethereum exchange-traded notes (ETNs) starting from April 8, 2024. The move comes following a March 25 Market Update titled “Admission of Bitcoin and Ethereum ETNs,” which outlined the exchange’s plans for the introduction of cryptocurrency ETNs to its platform.

Crypto ETNs Come to LSE

The London Stock Exchange has announced its decision to accept listing applications for Bitcoin and Ethereum exchange-traded notes (ETNs) starting from April 8, 2024. The move comes following a March 25 Market Update titled “Admission of Bitcoin and Ethereum ETNs,” which outlined the exchange’s plans for the introduction of cryptocurrency ETNs to its platform.

According to the update, the first trading day for these cryptocurrency ETNs is scheduled for May 28, 2024, contingent upon approval from the Financial Conduct Authority (FCA). The decision to launch the market for Crypto ETNs on May 28 aims to ensure the maximum participation of issuers on the first trading day. The exchange has taken into account the need for issuers to meet the requirements outlined in the Crypto ETN factsheet and to prepare necessary documentation for establishing a Crypto ETN program.

Growing Mainstream Adoption

“Subject to the approval by the Financial Conduct Authority (the “FCA”) of the base
prospectuses, which will be required to list Crypto ETNs on the Main Market and also to the
Official List of the FCA, the Exchange is proposing that the first day of admission to trading of
those Crypto ETN securities will be Tuesday 28 May 2024″ the release said.

The announcement is another development in the mainstream acceptance of cryptocurrencies, as it opens up avenues for investors to gain exposure to digital assets through regulated financial instruments. The move also reflects growing institutional interest in cryptocurrencies and their increasing integration into traditional financial markets.

Diversification Opportunity

The release said that issuers are expected to submit necessary proposals latest by Aprol 15. The acceptance of Bitcoin and Ethereum ETN listings on the London Stock Exchange provides investors with additional opportunities to diversify their portfolios and participate in the burgeoning cryptocurrency market. However, the final approval from the FCA remains pending, and the exchange will continue to work towards meeting regulatory requirements to ensure a smooth launch of these new financial products.

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Author: Grace

Grace likes gardening. She holds some BTC and ETH.