An international exchange-traded fund provider, WisdomTree, has become one of the first issuers to list its crypto ETPs on the London Stock Exchange (LSE).

WisdomTree, a global provider of exchange-traded funds (ETFs) and exchange-traded products (ETPs), has received approval from the British Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the LSE. This approval marks a pivotal moment for the industry and UK-based professional investors.

In a recent announcement, Alexis Marinof, head of Europe at WisdomTree, highlighted the importance of this development, calling the approval a “significant step forward for the industry” in the UK.

Marinof also noted that regulatory limitations and uncertainty had previously barred many professional investors from gaining exposure to Bitcoin and other cryptocurrencies. However, with the Financial Conduct Authority’s approval, these barriers are expected to diminish.

The company’s crypto ETPs are already listed on other stock exchanges, including Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext exchanges in Paris and Amsterdam. WisdomTree’s Bitcoin (BTCW) and Ethereum (ETHW) ETPs are anticipated to start trading on May 28.

It’s important to note that the crypto exchange-traded notes (ETNs) slated for trading on the LSE are restricted to professional investors and will operate within designated trading segments. Each crypto ETN may offer up to three different currency lines, providing flexibility for investors looking to diversify their exposure to cryptocurrency through traditional financial markets.

With the FCA’s approval, barriers to entry are anticipated to diminish for professional investors interested in crypto.

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