Crypto Exchange WisdomTree Gets UK Regulatory Approval

May 23, 2024 thejournalbiz

The UK’s financial regulator approved the first cryptocurrency exchange-traded products, a step toward catching up to other financial centers in digital assets.

Tweet on UK BTC regulation

Crypto Exchange @WisdomTreeFunds Gets UK Regulatory Approval!
Trading may start as soon as May 28 under LSE guidelines#crypto #news #btc #etfs https://t.co/OLBG6mNuTP

— The_Journalbiz (@the_journalbiz) May 23, 2024

WisdomTree news on Trading BTC ETFs

WisdomTree Inc. said it received the green light from the Financial Conduct Authority to list a pair of physically-backed crypto ETPs tracking Bitcoin and Ether on the London Stock Exchange. The products may start trading as soon as May 28, WisdomTree said in a statement Wednesday.

Trading may start as soon as May 28 under LSE guidelines

ETC Group, 21Shares and CoinShares are among other issuers who have applied to list their own crypto products in the UK.

Even though all listed products will directly hold either Bitcoin or Ether, they are only available to professional investors under rules set by the FCA.

That’s a stricter stance than in the US, where a new crop of Bitcoin ETFs approved in January now oversees a combined $59 billion — almost five times the total for crypto vehicles traded in Europe.