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<p><span style="font-weight: 400;">The London Stock Exchange (LSE) will open a market for </span><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-as-the-london-stock-exchange-permits-btc-and-eth-etn-applications-traders-migrate-to-this-bitcoin-alternative-for-1000x-gains"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> (BTC) and Ethereum (ETH) exchange-traded notes (ETNs) on May 28, it said in a Mar. 25 </span><a href="https://docs.londonstockexchange.com/sites/default/files/documents/n0324.pdf"><span style="font-weight: 400;">announcement</span></a><span style="font-weight: 400;">.</span></p> 
<p><span style="font-weight: 400;">The LSE has chosen to launch the crypto ETN market on May 28 to ensure that the “maximum number of issuers” are present during the market’s first day of trading, it said. </span></p> 
<p><span style="font-weight: 400;">This will also give issuers enough time to prepare the necessary documentation and meet regulatory requirements.&nbsp; Applications for the admission can be submitted from Apr. 8.<img decoding="async" src="https://pbs.twimg.com/card_img/1771472753696100353/EkseAuS7?format=jpg&amp;name=large" alt="The Block on X: &quot;London Stock Exchange picks May 28 as start date for crypto ETN trading https://t.co/qsXQNMq967&quot; / X"></span></p> 
<h2 id="span-style-font-weight-400-issuers-need-to-submit-applications-to-the-london-stock-exchange-by-apr-15-span"><span style="font-weight: 400;">Issuers Need To Submit Applications To The London Stock Exchange By Apr. 15</span></h2> 
<p><span style="font-weight: 400;">Issuers looking to list securities on the Main Market on May 28 will need to submit all of the necessary information to the LSE by Apr. 15. </span></p> 
<p><span style="font-weight: 400;">This information will include details regarding how the issuer will meet the requirements listed in the crypto ETN </span><a href="https://docs.londonstockexchange.com/sites/default/files/documents/crypto_etn_admission_factsheet.pdf"><span style="font-weight: 400;">factsheet</span></a><span style="font-weight: 400;">. A draft of the base prospectus highlighting the relevant disclosures will also need to be sent.&nbsp;</span></p> 
<p><span style="font-weight: 400;">Any issuers that fail to meet the requirements, do not submit their applications before or on Apr. 15, or fail to get their base prospectus approved by the FCA by noon May 22, will not be able to participate in the first day of trading.</span></p> 
<h2 id="span-style-font-weight-400-fca-open-to-crypto-etns-span"><span style="font-weight: 400;">FCA Open To Crypto ETNs</span></h2> 
<p><span style="font-weight: 400;">Crypto ETNs will only be made available to professional investors, said the LSE in a Mar. 11 announcement. Only investment firms and credit institutions will be allowed to take part as the LSE believes these products are “ill-suited” for retail investors.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">The march of <a href="https://twitter.com/hashtag/cryptocurrencies?src=hash&amp;ref_src=twsrc%5Etfw">#cryptocurrencies</a> in the markets continues. Today the&nbsp;Financial Conduct Authority <a href="https://twitter.com/TheFCA?ref_src=twsrc%5Etfw">@TheFCA</a>&nbsp;has announced that trading can commence for crypto backed&nbsp;<a href="https://twitter.com/hashtag/ETNs?src=hash&amp;ref_src=twsrc%5Etfw">#ETNs</a> – but only for professional investors due to their high level of risk.<a href="https://t.co/MxhBTiCI4p">https://t.co/MxhBTiCI4p</a></p> 
 <p>— Dean Armstrong KC (@ArmstrongDean) <a href="https://twitter.com/ArmstrongDean/status/1767159006613614635?ref_src=twsrc%5Etfw">March 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">The decision by the LSE follows a Mar. 11 statement by the UK’s Financial Conduct Authority (</span><a href="https://www.fca.org.uk/"><span style="font-weight: 400;">FCA</span></a><span style="font-weight: 400;">) that indicated it </span><a href="https://insidebitcoins.com/news/london-stock-exchange-to-start-accepting-crypto-etn-applications-in-the-second-quarter"><span style="font-weight: 400;">was open to receiving requests</span></a><span style="font-weight: 400;"> from Recognized Investment Exchanges (RIEs) to create a listed market segment for crypto ETNs. </span></p> 
<p><span style="font-weight: 400;">Cryptocurrencies have traded long enough for investors to determine their risk appetite for crypto ETNs, the regulator said.</span></p> 
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3> 
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London Stock Exchange Will Launch Bitcoin And Ether ETN Market On May 28

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