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The London Stock Exchange announced on Monday evening its plans to introduce a market for bitcoin (BTC) and ether (ETH) exchange-traded notes (ETNs) on May 28, marking a significant step in the integration of cryptocurrencies into traditional financial markets.
Application process opens
Starting April 8, the stock exchange will begin accepting applications for trading these crypto ETNs.
However, the market’s establishment is contingent upon approval from the U.K. regulator, the Financial Conduct Authority (FCA), as outlined in the official notice.
UK’s regulatory landscape
The FCA’s decision to facilitate Recognized Investment Exchanges (RIEs) in creating a listed market segment for ETNs reflects a broader effort to enhance the country’s crypto-friendly regulatory environment.
These products will be accessible exclusively to professional investors.
Push to make UK a crypto hub
The move aligns with recent announcements from the U.K. government aimed at positioning the country as a leading crypto hub.
Regulators and policymakers have demonstrated a proactive approach to embracing digital assets and fostering innovation within the financial sector.
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