Following FCA approval, the London Stock Exchange will list Bitcoin ETPs starting May 28.
The UK's Financial Conduct Authority (FCA) has approved the listing of Bitcoin exchange-traded products (ETPs) on the London Stock Exchange (LSE). Asset manager WisdomTree received the green light to list its Physical Bitcoin ETPs, which are set to begin trading on May 28. This decision comes after the FCA's policy shift announced in March, signaling a more receptive stance toward Bitcoin ETPs for professional investors.
The FCA's approval represents a reversal from its previous ban on such offerings in 2020, reflecting the growing institutional adoption of Bitcoin funds. Major US and Hong Kong markets had earlier approved Bitcoin spot ETFs, influencing the FCA's revised approach. Despite the change, the FCA will maintain the ban on these products for retail investors, focusing solely on professional investment circles.
Zurich-based 21Shares and Invesco have also received FCA approval for their Bitcoin ETPs. While Invesco has remained silent on their plans, 21Shares is expected to start trading its Bitcoin products around the same time as WisdomTree.
WisdomTree plans to charge a 0.35% expense ratio for its Bitcoin ETPs listed on the LSE, a competitive rate considering the firm's already established Bitcoin ETPs in European exchanges and a Bitcoin ETF in the United States.
