The United Kingdom’s Financial Conduct Authority said it would not object to requests to create a market segment for crypto-backed ETNs.
The London Stock Exchange (LSE) announced that it will start accepting applications for Bitcoin and Ether crypto exchange-traded notes (ETNs) in the second quarter of 2024.
On March 11, the exchange confirmed that it would accept applications following the guidelines specified in its Crypto ETN Admission Factsheet. However, the exchange did not provide the exact date that it will start accepting applications.
In the factsheet, the exchange said that crypto ETNs should be physically backed and non-leveraged. They should have a market price or value measure of the underlying asset that is publicly available and must be backed by Bitcoin (BTC) or Ether (ETH).
Read more
Source: https://cointelegraph.com/news/london-stock-exchange-bitcoin-ethereum-etn