The London Stock Exchange (LSE) has announced that it will begin accepting listing applications for Bitcoin and Ethereum crypto Exchange Traded Notes (ETNs) from April 8, 2024.
With this move, an important step was taken towards the integration of cryptocurrencies into mainstream financial markets.
The announcement follows the LSE’s previous notification, published on 11 March 2024, stating that the Exchange intends to accept applications for acceptance of Bitcoin and Ethereum Crypto ETNs in the second quarter of 2024.
The first cryptocurrency ETNs are expected to begin trading on May 28, 2024, subject to approval by the UK Financial Conduct Authority (FCA). The LSE chose this date to ensure that the maximum number of issuers could be available on the market on the first day of trading.
Issuers planning to establish a cryptocurrency ETN program and list securities on the Main Market on May 28, 2024 will be required to submit their applications to the exchange no later than April 15, 2024.
Bitcoin Spot ETFs were recently approved in the USA and made a big splash. It is also thought that these ETFs played a role in the recent price rise in BTC.
*This is not investment advice.