London Stock Exchange to Launch Crypto ETNs Trading

The London Stock Exchange will begin trading Bitcoin and Ether crypto exchange-traded notes. The announcement has come two weeks after the initial announcement of accepting applications.

May 28 has been determined as the start date for trading, taking into consideration the need for issuers to meet the requirements and prepare documentation for their Crypto ETN programmes, which will require approval from the FCA.

These requirements stated in the Crypto ETN factsheet highlight that the Crypto ETNs are only suitable for professional investors and are only available under designated trading segments.

ETNs are debt securities that track an underlying asset, providing investors with the opportunity to trade securities that reflect the performance of crypto assets on the exchange.

In the US, similar Bitcoin exchange-traded funds (ETFs) have already been launched and have accumulated $54 billion in assets under management.