Posted 3/26/2024, 8:56:09 AM
London Stock Exchange to Launch Bitcoin, Ethereum ETNs Pending Regulatory Approval
- London Stock Exchange launching market for Bitcoin and Ethereum exchange-traded notes (ETNs) on May 28
- ETNs are unsecured debt securities backed by issuer's credit, unlike ETFs which directly hold assets
- Market launch subject to approval by UK regulator Financial Conduct Authority
- Issuers must submit documentation for ETN programs by April 15
- Bitcoin prices up over 5% in last 24 hours, boosted by positive developments like ETF inflows