The London Stock Exchange (LSE), one of the world’s established stock exchanges, is set to offer Bitcoin (BTC) and Ethereum (ETH) exchange traded notes (ETNs) on May 28, according to the firm’s announcement on Monday. The news came after the exchange announced earlier this month its plans to accept applications for listing Bitcoin and Ethereum Crypto ETNs in Q2 2024.
Following an announcement to accept applications for Bitcoin and Ethereum ETNs, the major stock exchange moves to the next step.
As noted, issuers can now submit applications to list their Crypto ETNs starting April 8. The LSE targets Tuesday, May 28 as the launch date of the crypto ETN market. The reason behind this planned time frame is to ensure issuers have enough time to meet listing requirements and prepare necessary documentation for their Crypto ETN programs, which require FCA approval.
To wit,
“We have decided to launch the market in Crypto ETNs on 28 May 2024 to enable the maximum number of issuers to be present in the market on the first day of trading,” wrote the LSE.
