WisdomTree Bitcoin, Ethereum ETPs To List in U.K.

WisdomTree Bitcoin, Ethereum ETPs To List in U.K.

The move gives U.K.-based professional investors access to the cryptocurrencies.

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Reviewed by: etf.com Staff
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Edited by: James Rubin

WisdomTree has received approval from the Financial Conduct Authority (FCA) to list its bitcoin and Ethereum exchange-traded products on the London Stock Exchange (LSE).

The WisdomTree Physical Bitcoin ETP (WBTC) and the WisdomTree Physical Ethereum ETP (WETH) will be among the first set of crypto ETPs to be listed in the U.K., with the unveiling expected to be on May 28.

It comes after the FCA gave the green light for crypto listings on U.K. exchanges in March, giving professional investors access to the products for the first time.

However, crypto ETNs in the U.K. will only be available to professional investors, with the ban on retail access still in place.

To list on the LSE, crypto ETNs must be physically backed, non-leveraged and offer exposure to bitcoin or Ethereum only.

More Institutional Interest?

Alexis Marinof, head of Europe at WisdomTree, said: “The FCA approval of our crypto ETPs’ prospectus is a significant step forward for the industry and U.K.-based professional investors seeking exposure to the asset class.

“While U.K.-based professional investors have been able to allocate to crypto ETPs via overseas exchanges, they will soon have a more convenient access point.”

He added he expects the approval to generate greater institutional adoption of the asset class with barriers to entry removed.

This story initially appeared in etf.com's sister publication, ETFStream.com.

Theo Andrew joined ETF Stream as a senior reporter in September 2021. He has over four years of investment writing experience spanning pensions and retail investments, most recently at Citywire, where he was a senior reporter covering environmental, social and governance investing.