WisdomTree received approval from the Financial Conduct Authority to list its physically backed Bitcoin and Ethereum ETPs on the London Stock Exchange. This approval allows WisdomTree to introduce the WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs, targeting the May 28 lifting of British restrictions. These ETPs, available exclusively to professional investors, have a management expense ratio of 0.35%, making them one of the lowest fee institutional grade crypto ETPs in Europe.
Alexis Marinof, Head of Europe at WisdomTree, highlighted the importance of this regulatory approval in providing UK-based professional investors with easier access to digital assets. Marinof noted that FCA approval could potentially increase institutional adoption, removing previous regulatory barriers that limited exposure to Bitcoin and other cryptocurrencies.
WisdomTree's current offerings, listed on major European exchanges such as Deutsche Börse
Other issuers, including ETC Group and CoinShares, are also preparing to list their crypto ETPs on the LSE, in line with FCA regulatory requirements. Given recent guidance from the FCA, this is essentially a box-checking exercise for established ETP issuers at this stage.
WisdomTree's initiative, combined with potential interest from other major European crypto players like VanEck, signals growing momentum towards regulated, institutional-grade crypto investment products in the UK market. However, for now, retail investors are left out and are therefore deemed incapable of handling Bitcoin purchases through ETPs.
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