WisdomTree Unveils The First Crypto ETPs On The London Stock Exchange
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
The UK’s Financial Conduct Authority has announced that WisdomTree can now offer two cryptocurrency exchange-traded products to UK users. These products will be available soon on the London Stock Exchange.
WisdomTree Boasts $112 Billion In Managed Assets
WisdomTree is a global financial innovator that provides exchange-traded products to customers worldwide. It boasts about $112 billion in assets under management.
On Wednesday, May 22, it announced that it had received FCA’s permission to launch two new products on the London Stock Exchange. These products include the WisdomTree Physical Ethereum (ETHW) and WisdomTree Physical Bitcoin (BTCW).
These physically backed exchange-traded products will be unveiled on May 28, 2024. They will only be available to professional investors in the initial stage of their launch. However, they may be available to retail investors as time goes on.
The Head of Europe at WisdomTree, Alexis Marinof, stated that investors residing in the UK have had the opportunity to venture into cryptocurrency ETPs but from foreign exchanges. He assured UK investors that there would be a more straightforward access point. The brand-new tool will provide good trading terms like other European crypto ETPs.
Marinof added that the Financial Conduct Authority’s approval could lead to a much bigger adoption of the asset class by big companies. He said that several professional traders have not been able to gain access to Bitcoin and many other digital assets because of uncertainty and regulatory limitations.
WisdomTree Becomes The First Issuer Of ETPs Within Europe In 2019
According to the latest update, WisdomTree became the first investment service issuer to start distributing ETPs within Europe in 2019. The company now offers many of the same instruments. These instruments are listed on major Amsterdam, Paris, Switzerland, and Germany exchanges.
WisdomTree was also one of the firms that introduced the first set of spot Bitcoin ETFs, launched in early January 2024 on Wall Street.
Bitcoin ETF costs nearly $74, the most it’s ever been, and goes up and down as Bitcoin does. Since January, it’s gone up by more than 80%.
The WisdomTree Bitcoin Fund is a money-saving plan traded on the stock market. Its goal is to get a share of the money that bitcoin is worth, after taking away costs and debts, by owning bitcoin. The plan will usually determine how much its parts are worth daily using a separate calculation that adds up the trades made on major Bitcoin exchanges.
