- WisdomTree received FCA approval to list Bitcoin and Ethereum ETPs on the LSE, marking a significant milestone and expanding institutional crypto investment opportunities.
- ETPs offer institutional-grade crypto exposure with a competitive management expense ratio.
- The news coincides with optimism over potential Spot Ethereum ETF approval in the U.S.
WisdomTree gains FCA approval to list Bitcoin and Ethereum ETPs on the London Stock Exchange, opening new avenues for institutional crypto investments.
WisdomTree Pioneers Crypto ETP Listing on LSE
WisdomTree, a prominent global fund manager, has made a significant breakthrough in the cryptocurrency investment space. The firm has announced that it has obtained approval from the U.K. Financial Conduct Authority (FCA) to list Bitcoin and Ethereum Exchange-Traded Products (ETPs) on the London Stock Exchange (LSE). This move marks a pivotal moment for institutional investors seeking exposure to the crypto market through regulated channels in the U.K.
Competitive Management Expense Ratio
In a recent announcement, WisdomTree unveiled its plans to introduce physically-backed Bitcoin (BTCW) and Ethereum (ETHW) ETPs on the London Stock Exchange (LSE), following approval from the FCA. The firm emphasized its distinction as one of the first issuers to receive FCA approval for crypto ETPs. Notably, these Bitcoin and Ether ETPs are expected to be available for trading on May 28, catering initially to professional investors.
Meanwhile, WisdomTree’s Bitcoin and Ethereum ETPs boast a management expense ratio (MER) of just 0.35%. It positions them as competitively priced options for institutional-grade exposure to these leading cryptocurrencies. Alexis Marinof, Head of Europe at WisdomTree, hailed the FCA approval as a pivotal moment for UK-based investors. Besides, he noted that it could pave the way for broader institutional adoption of crypto assets.
Expanding Crypto Investment Opportunities
WisdomTree’s foray into the cryptocurrency market dates back to 2019 when it introduced the WisdomTree Physical Bitcoin ETP, marking the first instance of a traditional ETP issuer offering such exposure to European investors. Since then, the firm has expanded its crypto ETP lineup to encompass a diverse range of offerings, providing investors with access to single coins like Bitcoin and Ethereum, as well as diversified crypto baskets.
In addition, with its ETPs already listed on several European exchanges including Deutsche Börse Xetra, SIX Swiss Exchange, and Euronext Paris and Amsterdam, WisdomTree has been instrumental in democratizing crypto investment across the continent. The availability of these ETPs in multiple European countries underscores WisdomTree’s commitment to providing accessible and regulated avenues for crypto investment.
Meanwhile, the news comes amid soaring optimism in the U.S. over the potential approval of the Spot Ethereum ETF by the U.S. SEC in the coming days. Given the recent buzz, the Ethereum price also noted significant gains, trading over the $3,700 mark.
Conclusion
WisdomTree’s recent FCA approval to list Bitcoin and Ethereum ETPs on the London Stock Exchange represents a significant milestone for institutional crypto investments. With competitive management expense ratios and a history of pioneering crypto ETP offerings, WisdomTree continues to expand its influence in the regulated crypto investment space. As the industry awaits potential Spot Ethereum ETF approval in the U.S., the landscape for institutional crypto investments looks increasingly promising.
