London Stock Exchange (LSE) announces the launch of Bitcoin and Ethereum exchange-traded notes (ETNs) on May 28. Companies can apply from April 8. The move aims to boost trading activity amid declining trends. Issuers must meet listing criteria and obtain FCA approval.
London Stock Exchange New Market Opens for Bitcoin and Ethereum ETP Listing Applications
Companies interested in listing Bitcoin and Ethereum ETNs on LSE's new market can submit applications starting April 8. The deadline for detailed letters and draft prospectuses is April 15. FCA approval is mandatory for listing.
ETNs offer exposure to asset baskets similar to ETFs but differ in structure. While ETFs represent ownership, ETNs function as unsecured debt notes issued by banks. The value reflects asset performance.
London Stock Exchange Launches Crypto ETPs Exclusively for Professional Investors to Attract Institutional Capital and Solidify Digital Asset Standing
Bitcoin and Ethereum ETNs on LSE will be limited to professional investors under FCA regulations. Retail investors are excluded.
LSE faces challenges, including declining listings and trading activity. The move to list crypto ETNs aims to address this, attracting institutional investors and bolstering the UK's position in the digital asset economy.
The move coincides with LSE's efforts to combat challenges and attract investment amid shifting market dynamics.