Bittime - The Financial Conduct Authority (FCA) approved WisdonTree's Bitcoin and Ethereum exchange-traded product (ETP)These crypto assets can be invested more easily and in a regulated manner through the London Stock Exchange (LSE) starting May 28.
WisdomTree asset manager has approval from the UK's Financial Conduct Authority (FCA). This means launching exchange-traded products (ETP) based on Bitcoin and Ethereum.
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Previously, the FCA was known to be cautious about crypto products. However, this approval signals a change in the regulator's attitude. This ETP is specifically aimed at professional investors, with strict requirements to ensure investment security and integrity.
Also read: Wisconsin Pension Institute Investment in Bitcoin ETF Reaches $164 Million
What is ETP?
ETPs, or Exchange-Traded Products, are financial instruments that are traded on stock exchanges like ordinary shares. However, ETPs track other assets beneath them, which could be securities, indexes, or other financial products.
ETPs can represent a variety of investments. Examples include commodities, currencies, shares and bonds.
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Safe and Regulated Crypto Investment
WisdomTree's Bitcoin and Ethereum ETPs, named Physical Bitcoin (BTCW) and Ethereum (ETHW), require physical ownership of crypto assets as the underlying asset.
In addition, ETP issuers must partner with an Anti-Money Laundering (AML) licensed depository in the United States, United Kingdom, or European Union. This aims to provide an extra layer of security, where crypto assets are stored offline (cold storage).
Also read: Ethereum Volatility Informs About Ethereum's Wild Fluctuations
WisdomTree, Crypto Investment Pioneer
WisdomTree is a global investment management company worth 111 billion United States dollars. This company is known as a pioneer in offering crypto-related products.
In the United States, for example, WisdomTree's Bitcoin Fund (BTCW) was among the first to be approved as a spot Bitcoin ETF last January.
Shifting Attitudes of Global Regulators
This FCA decision marks a change in the attitude of global regulators towards crypto. Previously in 2020, the FCA banned similar products due to concerns about investor protection and market stability.
However, the success of spot Bitcoin ETFs in the United States and Hong Kong appears to be influencing the views of other regulators.
Apart from that, political support for crypto regulation is also increasing. In the United States, for example, there is the FIT21 Act which is supported by the Republican Party to provide a comprehensive regulatory framework for the wider crypto ecosystem. Figures such as former President Donald Trump are also said to support this initiative.
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Bitcoin and Ethereum ETP Approval Is Good News
While this is good news, it is worth noting that currently crypto ETPs are only available to professional investors. The FCA remains cautious towards retail investors, given the potential risks and volatility of crypto investments.
However, the FCA's approval for professional investors is expected to be a positive first step towards more inclusive crypto regulation in the future.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
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ETC Group Launches Ethereum Staking ETP: New Era to Make ETH Staking More Profitable?
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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