The London Stock Exchange intends to potentially list Bitcoin and Ethereum exchange-traded notes (ETNs) by the second quarter of this year, as revealed in a Mar. 11 market notice.
This followed the UK’s Financial Conduct Authority (FCA) approval for Recognised Investment Exchanges (RIEs) to establish a listed market segment dedicated to crypto asset-backed ETNs, according to a Mar. 11 statement.
Crypto ETNs, akin to exchange-traded funds (ETFs), monitor an underlying asset or index, but unlike ETFs, they are debt securities, essentially bonds. Typically, ETNs don’t possess the assets they track and are backed by a financial institution. Profit realization in ETNs occurs upon note maturity or investor sale.
This announcement coincides with Bitcoin’s recent stellar performance, hitting an all-time high of more than $71,000 earlier today, and Ethereum is also enjoying an uptrend that has pushed it above $4000.
No retail access
The Crypto ETNs will be exclusively accessible for tradi
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