"Bitcoin's Surge: London Stock Exchange Accepts Crypto ETN Applications as Market Cap Hits $1.4T"

The London Stock Exchange has been given approval by the FCA to accept applications for Bitcoin and Ethereum exchange-traded notes (ETNs) for professional investors, marking a new market segment in the UK. Unlike spot Bitcoin exchange-traded funds in the US, ETNs are classified as debt securities and provide exposure to the assets. This move comes amid slow crypto adoption in the UK, despite Prime Minister Rishi Sunak's desire to make the country a "crypto hub." The FCA's openness to crypto investment products signals a potential shift in regulatory stance.