The Block Crypto News28 minutes ago

Published on July 31, 2024 13:24 GMT+00:00edited on July 31, 2024 13:39 GMT+00:00

Fidelity International said Wednesday that its bitcoin exchange-traded product has been listed on the London Stock Exchange and is accessible to professional investors only.

The launch of Fidelity Physical Bitcoin ETP (ticker: FBTC) comes after the UK's Financial Conduct Authority approved the listing of bitcoin-backed exchange-traded notes for professional investors in late May. This regulatory change has opened the door for firms like 21Shares, WisdomTree and Global X to introduce similar products for the UK market.

"The FCA’s decision to authorize crypto asset-backed ETNs for professional investors is a positive development and reflects the increasing acceptance and demand of digital assets offered through a secure and regulated exchange. The Fidelity Physical Bitcoin ETP offers …