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Home»ADOPTION NEWS»London Stock Exchange begins accepting applications for Bitcoin and Ethereum ETN from the second quarter
ADOPTION NEWS

London Stock Exchange begins accepting applications for Bitcoin and Ethereum ETN from the second quarter

By Crypto FlexsMarch 11, 20242 Mins Read
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London Stock Exchange begins accepting applications for Bitcoin and Ethereum ETN from the second quarter
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Market • March 11, 2024, 4:50 a.m. EDT

Posted 1 minute ago In ~

The London Stock Exchange announced on Monday that it will begin accepting applications for the approval of Bitcoin and Ethereum cryptocurrency exchange-traded notes (ETNs) in the second quarter of this year.

LSE said: name We are accepting applications for the following: fact sheet Previously published. LSE said, “The exact release date will be confirmed soon.”

“To mitigate the risk of delays in approval times, the Exchange encourages early participation from potential issuers interested in accepting Crypto ETNs for trading on the Exchange,” the LSE added in its approval circular. According to the fact sheet, cryptocurrency ETNs are only available to professional investors.

This comes as the UK’s Financial Conduct Authority (FCA) said it would not oppose a proposal by the Chartered Investment Exchange (RIE) to create a listed market arm for cryptocurrency-backed exchange-traded notes (ETNs).

According to the document, ETNs are debt securities that provide exposure to underlying assets. Cryptocurrency ETNs allow investors to trade securities that track cryptocurrency assets on exchanges during London trading hours.

LSE’s move follows the United States’ lead Spot Bitcoin Exchange Traded Fund (ETF) have became popular Since its launch last January. Cumulative trading volume for U.S. spot Bitcoin ETFs on Friday surpassed $100 billion, reaching $106.59 billion, according to Yahoo Finance data compiled by The Block.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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