Bitcoin ETF

Bitcoin

A new announcement made by the UK’s Financial Conduct Authority (FCA) led to a fresh surge in the digital assets market. In the latest move, the watchdog announced its approval for recognized investment exchanges to launch crypto-backed exchange traded notes (ETNs). It is expected to be a big boost coming in for the crypto industry from the UK after <a href="https://news.todayq.com/fomo-etfs-fuel-bitcoin-70k-rally-next-aim-100000/" rel="noopener noreferrer nofollow">bagging a win in the US</a>. Crypto getting approvals worldwide 
It is important to note that the UK FCA’s approval comes following the trend set by regulators globally in facilitating crypto linked asset trading products. However, the regulator had specified that these products would only be accessible to professional investors. This includes investment firms and authorized credit institutions operating in financial markets.
As per reports, Crypto-backed ETNs will be restricted to professional investors. It is highlighted that these financial instruments might not be suitable for retail investors. However, exchanges must ensure orderly trading and provide proper protection for investors. Crypto ETNs seeking UK listings are needed to meet all regulatory requirements.
The watchdog had issued cautions against the potential harm posed to retail investors by crypto ETNs and derivatives. It mentioned that the ban on crypto ETNs and derivatives for retail consumers will continue
Here’s one thing that needs to be noted is that professional investors are better equipped to check whether crypto ETNs align with their risk appetite. They hold more market insight and data from a more extended trading history than retail investors. LSE makes move 
Moving up with good momentum, the London Stock Exchange announced that it will welcome applicants from the second quarter of this year. It will be for the admission of Bitcoin and Ether ETNs.
All these major moves come after the big approval over spot Bitcoin ETF given by the US Securities and Exchange Commission (SEC). The agreement over ETFs has proved to be sentiment changing moment for the crypto industry.&nbsp;
The biggest cryptocurrency, Bitcoin went on to breach the $71,000 price mark for the first time in its trading history.&nbsp; A surge of over the $71K price level shows investors confidence in the market which is considered a positive outlook for other cryptos.
Bitcoin gained around 50% in just the last 30 days carrying the entire crypto market towards glory. BTC is trading at an average price of $71,783, at the press time. Its 24 hour trading volume is up by 72% to stand at $48 billion.
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Another win for Crypto? UK FCA gives green light to ETNs

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