Bitcoin and Ethereum Physical ETP Approved for Listing in the UK

WisdomTree's Bitcoin and Ethereum Physical ETPs will debut on the London Stock Exchange, bringing new opportunities for professional investors.

This approval positions the UK ahead of the US in the Ethereum Physical ETP market, stirring excitement and anticipation among financial communities. Read on to discover the implications and details of this significant development.

Scheduled Listing on the London Stock Exchange on May 28

On May 22, 2024, the American asset management company "WisdomTree" announced that it had received approval from the Financial Conduct Authority (FCA) to list Bitcoin and Ethereum Physical ETPs (exchange-traded products) on the London Stock Exchange.

ETPs are a general term for various financial products traded on stock exchanges, including exchange-traded funds (ETFs), exchange-traded notes (ETNs), and commodity exchange-traded funds (ETCs).

The approved products are two ETPs, WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW), both of which are scheduled to be listed on May 28, 2024. Initially, these ETPs will be available only to professional investors, with fees set at 0.35% for both products.

Ethereum Physical ETP Listed Ahead of the US

WisdomTree offers the Bitcoin spot ETF “BTCW” in the US, but the Ethereum spot ETF is still under review.

The recent approval marks the first listing of an Ethereum physical ETP in the UK, ahead of the United States. Alexis Marinof, WisdomTree's head of Europe, commented on the approval.

The FCA approval of our crypto ETPs’ prospectus is a significant step forward for the industry and UK-based professional investors seeking exposure to the asset class.

While UK-based professional investors have been able to allocate to crypto ETPs via overseas exchanges, they will soon have a more convenient access point.

FCA approval in this respect could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty – we would expect FCA approval of our crypto ETPs’ prospectus to remove those barriers to entry.

Alexis Marinof

In the US, several companies planning to offer Ethereum physical ETFs have recently submitted revised documents, raising expectations for the potential approval of Ethereum physical ETFs in the United States.

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