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WisdomTree, the world’s largest exchange-traded product issuer with over $111 billion in global assets, has received the U.K. Financial Conduct Authority’s approval to list its crypto-based exchange-traded products on the London Stock Exchange. Available exclusively to professional investors, the Physical Bitcoin and Physical Ethereum ETPs will launch starting May 28 at competitive fees of 35 basis points.
The U.K. market is leading in providing a gateway for professional investors to new forms of digital asset exposure and, in general, financial innovation. The regulator is adjusting its attitude not only to this kind of crypto ETP but to general European practices; it has also reflected its approval of some of the recent U.S. products. It is worth noting that such a move followed the decision by the regulator to ban crypto derivatives for retail investors in January 2020 and the workarounds of that decision to enable professional-grade investments in the crypto space.
This strategic move by WisdomTree and the LSE reflects a big step forward in integrating cryptocurrency into the mainstream investment platform. It puts the U.K. market at the front line of financial innovation and opens up advanced investors to new routes of digital asset exposure.
