UK investors gain bitcoin exposure
Bitwise has launched four crypto ETPs for retail investors on the London Stock Exchange (LSE) as UK regulators open access to crypto ETNs.
Two Bitcoin ETPs, one Physical Ethereum ETP and one Ethereum Staking ETP from Bitwise will be tradable on the LSE starting October 21.
“UK investors can now gain exposure to Bitcoin or Ethereum through products that are fully backed and available via their brokers and tax-advantaged accounts,” said Bradley Duke, managing director and head of Europe at Bitwise.
“At Bitwise, we see it as our role to accompany investors on their journey in this dynamic asset class.”
Following the Financial Conduct Authority’s (FCA’s) decision to lift restrictions on retail access to crypto ETPs, Bitwise cut the total expense ratio on its BTC1 product to 0.05% from 0.20%.
Earlier this year, the regulator published its blueprint for smarter crypto regulation that looked to increase institutional access to cryptoassets, more information available here: FCA sets out blueprint for smarter crypto regulation - Capital Pioneer.
Effective immediately for six months and until further notice, the move makes BTC1 the lowest-cost product in Bitwise’s lineup of institutional-grade crypto ETPs, benefiting both new and existing investors in the fast-evolving digital asset market.
“We are excited to make Bitwise Bitcoin and Ethereum ETPs available to a much wider group of investors in Europe’s largest investment market through this launch on the London Stock Exchange,” said Duke.
Bitwise was a major supporter of Capital Pioneer’s inaugural Digital Assets Summit. Read Bradley Duke’s CaPio interview here: From trading floors to tokenisation: Bitwise’s institutional playbook - Capital Pioneer.