🚀 The London Stock Exchange (LSE) will launch cryptocurrency exchange-traded notes (ETNs) tracking the performance of Bitcoin (BTC) and Ether (ETH) on May 28th.

- Applications for crypto ETNs can be submitted from April 8th

- Successful funds will be listed next month following FCA approval

- ETNs are only available to professional investors due to the FCA ban on the sale of crypto derivatives and ETNs

- Crypto ETNs must be physically backed, non-leveraged, have a reliable value of the underlying market price, and be denominated only in Bitcoin or Ether

The LSE follows the lead of the US SEC, which approved Bitcoin-based funds in January, although without a retail investor component.