TechFlow news: Asset management firm WisdomTree (WT) has received approval from the UK Financial Conduct Authority (FCA) to list cryptocurrency exchange-traded products (ETPs) on the London Stock Exchange (LSE), making it one of the first applicants to gain regulatory approval from UK authorities for such proposals.
According to Wednesday's announcement, WisdomTree’s physically backed Bitcoin (BTCW) and Ether (ETHW) ETPs are expected to begin trading on May 28, initially available only to professional investors. The products carry a fee of 35 basis points. Headquartered in New York, WisdomTree manages over $111 billion in assets globally. Its WisdomTree Bitcoin Fund (BTCW) was among the funds approved to operate spot Bitcoin ETFs in the United States in January. The company has offered cryptocurrency products on European exchanges since 2019.
