After being approved by the UK FCA, 21Shares, Bitwise, and WisdomTree open retail investment channels for Bitcoin and Ethereum ETPs

ChainCatcher news, 21Shares, Bitwise, and WisdomTree have opened up investment channels for Bitcoin and Ethereum exchange-traded products (ETPs) to UK retail investors for the first time after receiving approval from the Financial Conduct Authority (FCA). This initiative comes just 12 days after the FCA officially lifted a four-year retail ban on crypto ETNs.

21Shares has launched two physically-backed Bitcoin and Ethereum ETP products on the London Stock Exchange (LSE), with the Ethereum ETP featuring a staking yield function and charging a low fee of 0.1% for some products. WisdomTree has also launched its physically-backed Bitcoin and Ethereum ETPs, with fees of 0.15% and 0.35%, respectively; Bitwise will launch similar products on Tuesday and will reduce the fee for its Core Bitcoin ETP to 0.05% for the first six months. Additionally, BlackRock has launched the iShares Bitcoin ETP on the LSE. This move by the FCA means that UK retail investors can purchase crypto ETPs through regulated brokers and investment platforms, further aligning the UK market with regions such as the US, Canada, Hong Kong, and the EU. The regulatory body expects to complete a comprehensive crypto regulatory framework covering stablecoins, trading platforms, lending, staking, and custody by 2026.