Bitcoin

Read

<p class="is-style-lead">Fidelity International has listed its physical Bitcoin exchange-traded product on the London Stock Exchange, providing professional investors with access to the world’s largest digital asset by market cap.</p>
<p>Trading under the ticker FBTC, the ETP is fully backed by Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), and tracks its price its price. The launch on the LSE follows approval by the United Kingdom’s Financial Conduct Authority in late May. This approval allows issuers to list crypto-backed exchange-traded notes for professional investors. Other firms like 21Shares, WisdomTree, and Global X have also announced similar products in the country.</p>
<h2 class="wp-block-heading" id="positive-development">‘Positive development’</h2>
<p>You might also like: <a href="https://crypto.news/etc-group-coinshares-wisdomtree-set-to-list-crypto-etps-on-london-stock-exchange/" rel="noopener noreferrer nofollow"> ETC Group, CoinShares, WisdomTree set to list crypto ETPs on London Stock Exchange </a></p>
<p>Stefan Kuhn, Fidelity International’s head of ETF and Index distribution for Europe, commented that FCA’s move to allow access to crypto-backed ETNs “is a positive development.”</p>
<p>According to Kuhn, the decision reflects the growing demand for digital assets exposure. The offering of these to professional investors via secure and regulated exchanges is a key step towards further adoption, the Fidelity International exec added.</p>
<h2 class="wp-block-heading" id="fidelity-s-bitcoin-etp-already-in-europe">Fidelity’s bitcoin ETP already in Europe</h2>
<p>While Fidelity’s bitcoin-backed product goes live on the LSE for professional investors on July 31, 2024, it’s not the first time the ETP is hitting the market in Europe.</p>
<p>As crypto.news <a href="https://crypto.news/fidelity-international-bitcoin-etp-europe/" rel="noopener noreferrer nofollow">highlighted</a>, Fidelity first launched its bitcoin ETP in Europe in February 2022, listing it on the Deutsche Börse Xetra. The firm followed this initial listing with an expansion&nbsp; to the SIX Swiss Exchange.</p>
<p>Fidelity reduced the ongoing charges figure, an annual fee attached to the ETP’s management, from 0.75% to 0.35% in February 2024.</p>
<p>Read more: <a href="https://crypto.news/london-stock-exchange-to-list-physically-backed-bitcoin-ethereum-etps/" rel="noopener noreferrer nofollow"> London Stock Exchange to list physically-backed Bitcoin, Ethereum ETPs </a></p>

Bitcoin ETP lists on London Stock Exchange

Innholdsfortegnelse

crypto.news

Andre artikler publisert på 31. juli 2024

XRP Outperforms Bitcoin, Ethereum To Rise As Top Gainer Today, Analyst Predicts 'Bullish Breakout...

Bitcoin Plummets Under $66k: Tracking Whale Activities in the Crypto Market

Olympic-Themed Meme Coin Meme Games Races Past $300K Raised In Presale

Bonk Price Eyes 30% Surge Potential Despite Falling Open Interest

Changing the Game with Breakthrough Blockchain Projects of the Upcoming Crypto Presale

Terra (LUNA) Price Falls as Investors React to Network Outage and Loss Claims Deadline

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!