London Stock Exchange to Open a Bitcoin and Ether ETN Market

The LSE will begin accepting applications to trade these crypto ETNs on April 8th. The market is subject to approval from the U.K. Financial Conduct Authority (FCA), the notice states.

The FCA said in early March that it would not reject requests from recognized investment exchanges (RIEs) to create a listed market segment for ETNs. The product would be available only to professional investors. At the time, the LSE said it would accept applications for Bitcoin and Ethereum ETNs by the second quarter of this year.

Regulators are moving to make the U.K. more crypto-friendly after the U.K. government made several announcements aimed at making the country a crypto hub.

The LSE's announcement is seen as a sign of the UK's willingness to play a leading role in the crypto market. Experts believe that this move will encourage institutional investors to participate in the crypto market, and in the long run, increase the stability and credibility of the crypto market.