London Stock Exchange is a stock exchange that was established in 1852. announced The Exchange has announced that they will begin accepting applications for Bitcoin Crypto Exchange Traded Notes (ETNs), starting April 8, 2024. The Exchange has taken this decision following its earlier announcement. notice On March 11, it announced its intent to permit the trading of Crypto ETNs during the second quarter.
JUST IN: 🇬🇧 London Stock Exchange to launch market for #Bitcoin Exchange traded notes will be held on 28 May. pic.twitter.com/hEStU4xUrc
— Bitcoin Magazine (@BitcoinMagazine) March 25, 2024
Exchange intends to begin trading in these ETNs as soon as possible, on May 28th, 2024. This is subject to the Financial Conduct Authority’s (FCA’s) approval of base prospectuses. It is intended to maximize issuer participation and allow issuers ample time for documentation preparation and regulatory compliance.
“We have decided to launch the market in Crypto ETNs on 28 May 2024 to enable the maximum number of issuers to be present in the market on the first day of trading,” The notice said: “In choosing this date we have taken into consideration that we need to ensure that issuers meet the requirements for consideration detailed in the Crypto ETN factsheet and importantly, it will also enable those issuers planning on admitting securities on the launch date, time to prepare documentation to establish a Crypto ETN programme which will require a base prospectus to be approved by the FCA.”
By April 15, issuers who wish to list securities on Main Market May 28, must provide the Exchange with the required information. The Exchange will need to know how the ETN or the Issuer is going to meet the Crypto ETN’s requirements. factsheet A draft base prospectus that highlights relevant disclosures.
The FCA will only approve the base prospectus of issuers that meet all the criteria. If they fail to do so, or if their applications are submitted after the deadline, the FCA may not accept their applications.
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Source: bitcoinmagazine.com