WisdomTree, 21Shares, And Invesco Receive FCA Approval For Crypto ETPs

According to Odaily, WisdomTree, 21Shares, and Invesco have received approval from the UK Financial Conduct Authority (FCA) for their crypto Exchange Traded Products (ETPs). The London Stock Exchange had previously stated that any company wishing to launch products on May 28th must receive approval before noon today. Earlier today, it was reported that asset management company WisdomTree received approval from the FCA to list its cryptocurrency ETPs on the London Stock Exchange (LSE). According to Wednesday's announcement, it is expected that WisdomTree's physical Bitcoin (BTCW) and Ethereum (ETHW) ETPs will begin trading on May 28th and will only be open to professional investors, with a fee rate of 35 basis points. WisdomTree stated that it is one of the first applicants to receive approval from the UK regulator for its prospectus. WisdomTree manages assets worth more than $111 billion globally, and its WisdomTree Bitcoin Fund (BTCW) is one of the Bitcoin spot ETFs approved in the US in January. Since 2019, WisdomTree has been offering cryptocurrency products on European exchanges.