The UK’s Financial Conduct Authority (FCA) has approved asset manager WisdomTree to list Bitcoin and Ethereum exchang<\/a>e-traded products (ETPs) on the London Stock Exchange (LSE). <\/p>\n BREAKING: \ud83c\uddec\ud83c\udde7 Financial Conduct Authority has approved #Bitcoin<\/a> ETPs to list on the London Stock Exchange.<\/p>\n Gradually, then suddenly \ud83d\ude80 pic.twitter.com\/hMjN24qRMl<\/a><\/p>\n \u2014 Bitcoin Magazine (@BitcoinMagazine) May 22, 2024<\/a><\/p>\n The FCA gave the green light for WisdomTree’s Physical Bitcoin ETPs <\/a>to begin trading on May 28. The $111 billion AUM firm will initially offer the products exclusively to professional investors.<\/p>\n This move follows the FCA’s March announcement that it would no longer object to Bitcoin ETP listings for professional investors. It also follows the approval of Bitcoin spot ETFs in the US and Hong Kong<\/a> earlier this year.<\/p>\n WisdomTree argued it is among the first firms to have its Bitcoin ETP prospectus approved by the traditionally Bitcoin-wary FCA. This represents a shift in the regulator’s stance after banning such offerings in 2020.<\/p>\n But with major markets like the US and Hong Kong warming up to regulated Bitcoin funds, the FCA has relaxed its stance. However, it plans to keep the ban in place for retail investors.<\/p>\n The reversal reflects the steadily growing adoption of Bitcoin ETFs among even traditional institutions. Recent SEC 13F filings revealed major banks and financial giants have bought up significant shares of US spot Bitcoin ETFs.<\/p>\n