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<ul>
 <li>This move further confirms the growing institutionalization of crypto markets.</li>
 <li>Exchange-traded notes (ETNs) follow the performance of an underlying asset or index.</li>
</ul>
In a press release on Monday, the Financial Conduct Authority (<a href="https://thenewscrypto.com/coinbase-implements-fca-compliant-measures-for-uk-users/" target="_blank" rel="noopener noreferrer nofollow">FCA</a>) of the United Kingdom confirmed that it will not oppose efforts by Recognised Investment Exchanges (RIEs) to establish a listed market segment for crypto asset-backed exchange-traded notes (ETNs). This move further confirms the growing institutionalization of crypto markets.
Professional investors, like investment companies and financial institutions, would have access to these products, according to the FCA. Exchange-traded notes (ETNs) follow the performance of an underlying asset or index and are often issued by financial institutions or investment managers.
<h3 class="wp-block-heading" id="h-retails-investors-excluded">Retails Investors Excluded</h3>
The regulator emphasized that exchanges should take responsibility for implementing enough controls to ensure orderly trading and safeguard professional investors. During the second quarter of this year, the London Stock Exchange will begin accepting applications for Ethereum (ETH) and Bitcoin (<a href="https://thenewscrypto.com/mudrex-to-offer-u-s-spot-bitcoin-etfs-for-indian-investors/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>).
On Monday, both Bitcoin and <a href="http://ethereum.org" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> surpassed $72,000 and $4,000, respectively. With a price of over $72,000, bitcoin hit a new all-time high today. The biggest cryptocurrency hit a new all-time high of around $72,300, according to data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>. Prices for bitcoin have probably risen due to speculation that the Federal Reserve would soon lower interest rates and the introduction of new spot bitcoin exchange-traded funds (ETFs).
But retail investors still can’t trade in these products. The regulator’s continuing belief in the unsuitability of crypto asset-backed ETNs and cryptocurrency derivatives for retail consumers is the reason for the continuation of the prohibition on selling crypto ETNs to retail customers. Cryptocurrencies are very risky, and investors should be ready to lose everything, according to the FCA.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/ethereum-surpasses-4000-as-bitcoin-hits-new-ath-whats-next-for-eth/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Surpasses $4000 as Bitcoin Hits New ATH; What’s Next For ETH?</a>

UK’s FCA Allows Crypto-Backed ETNs for Professional Investors

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