From Morningstar:

The Financial Conduct Authority (FCA) will allow recognised investment exchanges to create a listed market for crypto-asset backed exchange traded notes (ETNs), exclusively for professional investors. The London Stock Exchange Group (LSEG) plans to list bitcoin and ethereum crypto ETNs from the second quarter of this year, but the ban on selling to retail consumers in the UK remains in place. The FCA warns that crypto-assets are high risk and largely unregulated.

LSEG will only accept applications for physically backed crypto ETNs with bitcoin or ethereum as underlying assets. The FCA’s US counterpart recently approved the provision and sale of exchange-traded funds linked to bitcoin, with UK investors unable to participate. LSEG shares rose by 0.1% early Monday.

By Tom Waite, Alliance News editor.



Read more at Morningstar: FCA Gives Crypto Securities Trading Green Light