WisdomTree Gains FCA Approval for Crypto ETPs on London Stock Exchange

WisdomTree, a global asset management company, has received approval from the UK Financial Conduct Authority (FCA) to list its physically-backed Bitcoin and Ether Exchange-Traded Products (ETPs) on the London Stock Exchange (LSE). The products, named WisdomTree Physical Bitcoin (BTCW) and WisdomTree Ether (ETHW), will begin trading on May 28 and will be exclusively available to professional investors. These ETPs will have a management expense ratio of 0.35%, one of the lowest fees for institutional-grade Bitcoin and Ether products in Europe.

The approval marks a significant development for cryptocurrency investments in the UK, allowing professional investors to add digital assets to their portfolios through a regulated platform. The FCA has stipulated that while these ETPs are available to professional investors, the ban on retail investors remains in place. WisdomTree's move aligns with a broader trend of increasing institutional adoption of cryptocurrency assets, following similar product launches in major European exchanges like Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext in Paris and Amsterdam.

Alexis Marinof, the Head of Europe at WisdomTree, expressed enthusiasm about the FCA's approval, highlighting the importance for UK-based professional investors to diversify their portfolios with cryptocurrencies. This approval by the FCA is seen as a step toward removing regulatory barriers that have previously limited institutional exposure to cryptocurrencies. Other major European crypto companies, including ETC Group and CoinShares, are also preparing to list their crypto ETPs on the LSE, indicating a growing acceptance and maturity of the cryptocurrency market in the UK.