London Stock Exchange will launch an exchange-traded note (ETN), which is a market for Bitcoin (BTC) or Ethereum (ETH). The main UK stock exchange is indeed set to launch a market for Bitcoin (BTC) and Ethereum (ETH) ETNs. issued a market notice Crypto ETNs are set to launch on the 28th of May, 2024.
In the beginning of this month, it had been announced that Bitcoin and Ethereum ETN applications would soon be accepted. The notice also states that applications for these ETNs can be submitted starting April 8th. In addition, it states that the applications are subject to the approval of the nation’s Financial Conduct Authority (FCA).
Please Read This: London Stock Exchange to Accept Bitcoin and Ethereum ETN Applications
London Stock Exchange announces launch of Bitcoin and Ethereum ETN market
US digital assets market witnessed the first ever approval of spot Bitcoin ETFs. The US Securities and Exchange Commission has approved the product, which is a highly successful investment after only 50 trading days. Following this, the UK has announced its intention to investigate digital asset exchange traded markets.
London Stock Exchange published a notification on Monday stating that the Bitcoin ETN Market will be launched. It was only a few weeks ago that the London Stock Exchange had announced it intended to accept ETN application for both digital assets.
The Crypto ETNs allow UK investors to buy and sell securities on the exchange that are based upon digital assets. The exchange announced recently that they would be accepting ETN requests through the second quarter. According to the document, ETN applications are not accepted after April 15.
Please Read This: Bank of London Officially Submits Bid for Silicon Valley Bank UK
The notice also includes the launch date of May 28, 2024 for ETNs. According to the exchange, this date will be implemented in 2024. “enable the maximum number of issuers to be present in the market on the first day of trading.”
It was only a matter of months before the decision, which came after spot bitcoin ETFs were deemed wildly successful in the United States. These products are among the most popular asset management funds at BlackRock and Fidelity.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru