Pepe Coin

London Stock Exchange Group Plc has recently experienced a significant change in its exchange-traded funds (ETF) team. The four-person team responsible for overseeing ETFs has been halved, leaving only two members as the exchange prepares to list its first <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a>-related products. This reduction comes at a crucial time when the LSE is gearing up to introduce new offerings tied to digital currencies, highlighting the potential challenges in managing these new financial products with a diminished team. 
<h2 id="key-departures-and-upcoming-crypto-etp-launches">Key Departures and Upcoming Crypto ETP Launches</h2> 
Two prominent members of the LSE’s ETF team, Michael Stanley, head of exchange-traded products, and Hetal Patel, head of business development, have left the organization. A spokesperson for the LSE confirmed their departures but did not specify the timing. As the exchange anticipates the launch of <a href="https://coingape.com/breaking-lse-confirms-readiness-to-accept-bitcoin-etn-listing/" target="_blank" rel="noopener">exchange-traded notes (ETNs)</a> linked to Bitcoin and Ether on May 28, the departure of these key figures is notable. 
<a href="https://coingape.com/wisdomtree-secures-fca-approval-list-bitcoin-ether-etp-lse/" target="_blank" rel="noopener">WisdomTree</a>, 21Shares, and Invesco are among the approved issuers for these new crypto ETNs. Although crypto ETPs have been available in Europe for some time, UK regulatory constraints had previously prevented their listing in London until recent updates from the Financial Conduct Authority (FCA) in March. The LSE spokesperson expressed optimism about the growth prospects for these new crypto ETNs. Meanwhile, the LSE is actively seeking a new senior product manager for ETFs, with Patel indicating on LinkedIn her plans to start a new job in late July. 
Also Read: <a href="https://coingape.com/bitcoin-news-maxi-deems-ethereum-etf-incredibly-bullish-for-btc-heres-why/" target="_blank" rel="noopener">Bitcoin Maxi Deems Ethereum ETF “Incredibly Bullish” For BTC, Here’s Why</a> 
<h2 id="impact-on-operations-and-competitive-landscape">Impact on Operations and Competitive Landscape</h2> 
The LSE currently lists around 1,200 ETFs, according to Bloomberg data. The recent departures have complicated the feedback process for technical matters related to new applications, as noted by a senior executive at one of the potential crypto ETP issuers. This has introduced challenges in communication and clarity during the review process. In January, the US approved its first Bitcoin products, which have since amassed $60 billion in assets, and the SEC recently approved the first US ETFs based on <a href="https://coingape.com/tag/ethereum-etf/" target="_blank" rel="noopener">Ether</a>. 
The LSE spokesperson reassured that their specialists have been collaborating closely with issuers to meet suitability requirements for new listed products. The review process for crypto applications involves both the FCA and the LSE, with the FCA approving prospectuses and the LSE handling the listing. The UK market for crypto ETPs is becoming increasingly competitive, especially as the US market has already seen significant growth. 
Also Read: <a href="https://coingape.com/pepe-price-rally-smart-trader-nabs-1200-profit-trading-pepe-coin/" target="_blank" rel="noopener">PEPE Price Rally: Smart Trader Nabs 1200% Profit Trading Pepe Coin</a> 
The post <a href="https://coingape.com/london-stock-exchange-etf-team-halved-as-crypto-launch-looms/">London Stock Exchange ETF Team Halved As Crypto Launch Looms</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

London Stock Exchange ETF Team Halved As Crypto Launch Looms

Table of Contents

Coingape News Media

Other articles published on May 24, 2024

Elon Musk Warns About AI Bias

Why Ethereum (ETH) and Solana (SOL) Investors Rush to These 3 Altcoins

Ripple (XRP) Price Uptrend Could Pause for a Decline – Here’s Why

US Supreme Court Rules on Coinbase’s Sweepstakes Dispute

Investors Monitor XRP’s Price Amid Bearish Indicators

These Are 3 Cryptocurrencies Poised For Major Breakthroughs

Join our free newsletter for daily crypto updates!