LONDON, Monday, April 01, 2024- The London Stock Exchange (LSE) announced on March 25 via a notice that it will begin trading exchange-traded notes (ETNs) linked to cryptocurrencies on May 28, 2024.
In a recent market notice, N03/24, the London Stock Exchange (LSE) has outlined the admission procedure for Bitcoin and Ethereum Exchange-Traded Notes (ETNs).1
Following the previous announcement, applications for trading these Crypto ETNs will commence on April 8, 2024.
Pending approval from the Financial Conduct Authority (FCA) for the base prospectuses, necessary for listing Crypto ETNs on the Main Market and the Official List of the FCA, the LSE proposes May 28, 2024, as the initial trading day for these securities.
The LSE is currently accepting applications from issuers seeking to list their crypto ETNs on the exchange by April 15th.
The notice issued by the LSE further said:
“The decision to launch the market for Crypto ETNs on May 28, 2024, aims to maximize issuer participation on the inaugural trading day. Issuers intending to list securities on this date must submit required information to the Exchange by April 15, 2024.
“To be eligible for participation on the first trading day, issuers must ensure compliance with the Crypto ETN factsheet requirements, submit applications before the deadline, and have FCA-approved base prospectuses by midday on May 22, 2024.
Applications for Crypto ETN admission should be sent to admissions@lseg.com and ETFDeskLondon@lseg.com.
For further details, the full market notice is available on the London Stock Exchange’s website.
- londonstockexchange.com: https://docs.londonstockexchange.com/sites/default/files/documents/n0324.pdf[↩]
