US asset management company WisdomTree has received approval from the UK Financial Conduct Authority (FCA) to list its physically-backed cryptocurrency exchange-traded products (ETPs) on the London Stock Exchange (LSE). The company stated that it is one of the first applicants to have its prospectus approved by the UK regulatory authority.
According to the announcement released on Wednesday, WisdomTree’s “WisdomTree Physical Bitcoin” (BTCW) ETP and “WisdomTree Physical Ethereum” (ETHW) ETP are expected to begin trading on May 28th and will only be available to professional investors. The management fee for these cryptocurrency ETPs is 0.35%.
WisdomTree manages over $111 billion in assets globally, and its “WisdomTree Bitcoin Fund” (BTCW) was one of the Bitcoin spot ETFs approved for issuance in the US in January of this year. The company has been offering cryptocurrency investment products on European exchanges since 2019.
According to reports from Bloomberg, other issuers such as ETC Group, 21Shares, and CoinShares have also applied to list their own cryptocurrency products in the UK. ETC Group stated that its application is still in progress, while other institutions have not responded or declined to comment on the matter.
Source:
Successful Conclusion of CoinEx Taiwan’s 7th Anniversary Celebration, Embracing the Arrival of the Web3 Era Hand in Hand with Users
Since its establishment in 2017, CoinEx has been a professional cryptocurrency trading pla…