The London Stock Exchange has announced plans to launch a dedicated market for Exchange Traded Notes (ETNs) linked to this security Bitcoin Bitcoin/USD AND Ether ETH/USDthe two largest cryptocurrencies by market capitalization.
The new market is expected to go live on May 28, marking a milestone in the integration of digital assets into traditional financial markets.
The London Stock Exchange will begin accepting applications to trade these crypto ETNs from April 8, subject to approval from the Financial Conduct Authority (FCA), the UK’s financial regulator.
The FCA had already said in March that it would not reject requests from Recognized Investment Exchanges (RIEs) to create a listed market segment for ETNs, paving the way for this development.
It is important to note that these crypto ETNs will be available exclusively to professional investors, at least initially, as regulators address the complexities of this emerging asset class.
The London Stock Exchange’s move is in line with the UK government’s broader efforts to make the country a global hub for cryptocurrency and blockchain innovation.
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Recent announcements from the authorities have signaled a commitment to creating a regulatory environment that fosters the growth and adoption of digital assets.
As the debate over cryptocurrency regulation continues to evolve, industry events such as Benzinga’s Future of Digital Assets conference, scheduled for November 19, will play a crucial role in facilitating discussions and exploring the opportunities and challenges presented by this sector in rapid growth.
The conference will bring together leading figures from the cryptocurrency and blockchain industry, offering insights into regulatory developments, investment prospects and the future landscape of digital finance.
The launch of the ETN cryptocurrency market by the London Stock Exchange marks a significant step towards the mainstream adoption and recognition of digital assets within traditional financial markets.
It is expected to attract growing institutional interest and potentially pave the way for further integration of cryptocurrencies into the global financial system.
As the industry continues to evolve, events like Benzinga’s Future of Digital Assets conference will provide valuable platforms for stakeholders to engage in constructive dialogue, share insights, and shape the future trajectory of this transformative technology.
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