Key Points:
21Shares, a leading crypto investment firm, has announced the listing of its Exchange-Traded Product (ETP) fully backed by Bitcoin (BTC) on the London Stock Exchange (LSE).
Known as the 21Shares Bitcoin ETP (ABTC), this groundbreaking product offers investors a regulated and secure avenue to track the performance of BTC, the largest crypto asset by market capitalization. Notably, the 21Shares Bitcoin-backed ETP boasts the lengthiest track record among all physical Bitcoin ETPs available.
21Shares Bitcoin-backed ETP launch follows the UK Financial Conduct Authority’s (FCA) recent approval of two crypto exchange-traded products (ETPs) by WisdomTree. WisdomTree, a major player in the crypto market, had previously listed the WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) ETPs on the LSE.
Both 21Shares and WisdomTree are actively tapping into the London Stock Exchange, offering multiple physically backed crypto ETPs tailored for professional investors. WisdomTree’s pioneering efforts in 2019 laid the groundwork for 21Shares’ subsequent introduction of similar instruments. Presently, these products are available across various European exchanges, including those in Germany, Switzerland, Paris, and Amsterdam.
The revised regulatory landscape in the UK has garnered praise from the digital assets sector, which previously criticized the FCA’s stringent approach. Advocates argue that easy access to major cryptocurrencies like Bitcoin and Ethereum is pivotal for the UK to solidify its position as a leading global hub for digital assets.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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