LONDON, Monday, May 27, 2024- The London Stock Exchange (LSE) will commence trading for exchange-traded notes (ETNs) based on Bitcoin (BTC) and Ether (ETH) tomorrow Tuesday, May 28, 2024.
It is important to note that participation in this market will be limited to professional investors.
The London stock Exchange announced in March. 1
The move follows the Financial Conduct Authority’s (FCA) recent approval, granted earlier in May, for Recognized Investment Exchanges (RIEs) to establish a dedicated market segment specifically for ETNs.
Applications for trading these crypto ETNs will be accepted by the LSE starting April 8. However, final approval from the FCA remains necessary before trading can officially begin.
The FCA’s stance, as outlined in a March statement, demonstrates a shift towards greater openness regarding cryptocurrencies. The regulator indicated it wouldn’t stand in the way of RIEs creating an ETN market.
- docs.londonstockexchange.com: https://docs.londonstockexchange.com/sites/default/files/documents/n0324.pdf[↩]
