tl;dr
The London Stock Exchange (OTCPK:LDNXF) (OTCPK:LNSTY) has announced that it will begin listing cryptocurrency exchange-traded notes on May 28, pending approval from the U.K.'s Financial Conduct Authority. Investors can apply to trade these crypto ETNs starting April 8, with the inclusion of bitcoin ...
The London Stock Exchange (OTCPK:LDNXF) (OTCPK:LNSTY) has announced that it will begin listing cryptocurrency exchange-traded notes on May 28, pending approval from the U.K.'s Financial Conduct Authority. Investors can apply to trade these crypto ETNs starting April 8, with the inclusion of bitcoin (BTC-USD) and ether (ETH-USD) options. However, only professional investors will be permitted to trade in these securities. Issuers have until April 15 to submit a "base prospectus" in order to propose the listing of these securities. The decision to list crypto ETNs on May 28 was made to ensure the maximum number of issuers would be present on the first day of trading. Additionally, this announcement coincides with the resumption of bitcoin's rally, surging 7.3% to over $70,000 and Ethereum jumping 7.2% to $3,620.
This move by the London Stock Exchange signals a growing acceptance and adoption of cryptocurrencies and related securities in the traditional financial market. The decision to list these crypto ETNs indicates a recognition of the increasing demand for these assets among investors. Furthermore, the inclusion of bitcoin and ether as trading options demonstrates a willingness to accommodate the interest in the most popular cryptocurrencies. The announcement also reflects the upward momentum of the cryptocurrency market, with both bitcoin and ether experiencing significant price surges. This development may further bolster confidence in the cryptocurrency market as it continues to gain traction and recognition in mainstream finance.
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