tldr; The UK’s first cryptocurrency exchange traded products (ETPs) are set to launch on the London Stock Exchange on May 28, marking a significant development nearly a decade after similar products debuted in Sweden. WisdomTree and 21Shares have received approval from the Financial Conduct Authority to list ETPs investing in bitcoin and ether. However, these ETPs will be available only to professional investors, as the FCA has deemed crypto derivatives unsuitable for retail consumers due to potential harm. This launch could lead to greater institutional adoption of cryptocurrencies in the UK, despite the restrictions on retail investors.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; The UK’s first cryptocurrency exchange traded products (ETPs) are set to launch on the London Stock Exchange on May 28, marking a significant development nearly a decade after similar products debuted in Sweden. WisdomTree and 21Shares have received approval from the Financial Conduct Authority to list ETPs investing in bitcoin and ether. However, these ETPs will be available only to professional investors, as the FCA has deemed crypto derivatives unsuitable for retail consumers due to potential harm. This launch could lead to greater institutional adoption of cryptocurrencies in the UK, despite the restrictions on retail investors.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.