Bitcoin: will crypto ETFs also land on the London Stock Exchange?
The UK's Financial Conduct Authority says it will not oppose a call to create a market segment for cryptocurrency-backed ETNs.
ETNs, while similar to ETFs, have key differences. An ETF, for example, also involves owning the asset they “track,” such as BTC itself or S&P 500 shares.
ETNs, in contrast, are debt instruments whose return depends on the underlying. That is, a product that does not require a portfolio made up of the components of the index or reference assets.
The London Stock Exchange, in all of this, has already confirmed that it will accept applications for ETN Bitcoin and Ethereum in the second quarter of this year.
