The LSE will debut Bitcoin and Ethereum ETNs on May 28, 2024, pending FCA approval. This initiative emphasizes transparency and compliance, with issuers required to meet detailed requirements by April 15, 2024.
The London Stock Exchange (LSE) is set to launch cryptocurrency Exchange-Traded Notes (ETNs) for Bitcoin and Ethereum on May 28, 2024. This move depends on the Financial Conduct Authority (FCA) approving the base prospectuses for these ETNs to be listed on the Main Market.
Issuers must meet specific requirements by April 15, 2024, ensuring transparency and compliance. This timeline allows issuers ample time to prepare the necessary documentation and meet the comprehensive requirements detailed in the Crypto ETN factsheet.
The LSE’s initiative marks a pivotal moment in financial innovation, blending the traditional robustness of the stock market with the emerging cryptocurrency market. The launch reflects the LSE’s commitment to fostering innovation while ensuring investor protection and market integrity.
Issuers who fail to comply by May 22, 2024, will be ineligible for the initial day of trading. This meticulous preparation underscores the LSE’s dedication to maintaining high standards of transparency and regulatory compliance.
