London Stock Exchange Approves Bitcoin and Ethereum ETNs

The London Stock Exchange (LSE) has announced its decision to accept applications for the admission of Bitcoin and Ethereum Exchange Traded Notes (ETNs) starting in the second quarter of 2024, following the UK’s Financial Conduct Authority (FCA) decision to allow crypto asset-backed exchange-traded notes. The LSE has outlined stringent requirements for the admission of these crypto ETNs, emphasizing physical backing, non-leveraged structures, and the necessity for reliable and publicly available market prices for the underlying crypto assets. The initiative is designed exclusively for professional investors and represents a controlled expansion into the Bitcoin and crypto sector within a strict regulatory framework.