After receiving approval from the UK FCA, 21Shares, Bitwise, and WisdomTree open retail investment channels for Bitcoin and Ethereum ETPs.

ChainCatcher reported that 21Shares, Bitwise, and WisdomTree have, for the first time, opened investment channels for bitcoin and ethereum exchange-traded products (ETPs) to UK retail investors after receiving approval from the UK Financial Conduct Authority (FCA). This move comes just 12 days after the FCA officially lifted its four-year-long retail ban on crypto ETNs.

21Shares has listed two physically-backed bitcoin and ethereum ETP products on the London Stock Exchange (LSE), with the ethereum ETP featuring staking yield functionality and a low fee rate of 0.1% for certain products. WisdomTree has also launched its physically-backed bitcoin and ethereum ETPs, with fees of 0.15% and 0.35% respectively. Bitwise will launch similar products on Tuesday and will reduce its Core Bitcoin ETP fee to 0.05% for the first six months. In addition, BlackRock has also listed its iShares Bitcoin ETP on the LSE. The FCA's move means that UK retail investors can now purchase crypto ETPs through regulated brokers and investment platforms, further aligning the UK market with regions such as the US, Canada, Hong Kong, and the EU. The regulator expects to complete a comprehensive crypto regulatory framework covering stablecoins, trading platforms, lending, staking, and custody by 2026.