London Stock Exchange Will Start Market for Bitcoin and Ether ETNs May 28
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The London Stock Exchange (LSE) said it will start a marketplace for bitcoin and ether exchange-traded notes (ETNs).
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The U.K. regulator, the Financial Conduct Authority, said it would allow Recognized Investment Exchanges to create a listed market segment for ETNs earlier this month.
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The London Stock Exchange will roll out a market for bitcoin (BTC) and ether (ETH) exchange-traded notes (ETN) on May 28, it said on Monday.
The stock exchange will accept applications for trading those crypto ETNs from April 8. The market will be subject to the approval of the U.K. regulator, the Financial Conduct Authority, the notice said.
The FCA said earlier in March that it would not turn down requests from Recognized Investment Exchanges (RIEs) to create a listed market segment for ETNs. The products will be available to professional investors only. At the time, the London Stock Exchange said it planned to accept applications for bitcoin and ether ETNs by the second quarter of this year.
Regulators have been moving to make the country more crypto-friendly following several announcements from the U.K. government to make the country a crypto hub.
Edited by Aoyon Ashraf.
