Ethereum

Core

Bitcoin

ETFs backed by Bitcoin and Ethereum in the UK have seen low trading volumes since their launch on the London Stock Exchange (LSE) on May 28. The launch took place following the approval of the UK Financial Conduct Authority (FCA). 
Unlike their US counterparts, these products can only be traded by professional investors. But 21Shares, one of the issuers of these ETFs, believes that opening up these products to the retail market could be a “game changer”. 
21Shares offers eight cross-listed products in the UK, four powered by Bitcoin and four powered by Ethereum. WisdomTree manages four ETFs, two each for Bitcoin (BTC) and Ethereum (ETH), while Invesco offers two Bitcoin-backed products. To list on the LSE, crypto ETFs must be physically backed, unleveraged and offer exposure only to Bitcoin or Ethereum. 
Related News: <a href="https://en.bitcoinsistemi.com/santiment-named-4-altcoins-pay-attention-to-these-this-weekend-and-the-first-days-of-next-week/" target="_blank" rel="dofollow">Santiment Named 4 Altcoins - "Pay Attention to These This Weekend and the First Days of Next Week"</a> 
Since their launch, the total volume of all these products was just $504,880 as of June 6. WisdomTree accounts for 59% of transaction volume, while 21Shares accounts for 41%. In contrast, Invesco's products have seen zero transaction volume so far. By comparison, spot Bitcoin ETFs in the US saw $2.5 billion worth of trading volume in a single day on Friday. 
Among 21Shares' products, Ethereum offerings were more successful, accounting for 76% of transaction volumes. Within this, 21Shares' Ethereum Staking ETFs saw approximately 57% more trading volume than the Core Ethereum product without staking returns. 
21Shares noted that professional investors typically trade over-the-counter (OTC), buying and selling financial instruments outside of official exchanges such as the LSE, directly with another party or through the most liquid exchange available. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/first-data-arrived-from-bitcoin-and-ethereum-etfs-approved-in-the-uk/">First Data Arrived from Bitcoin and Ethereum ETFs Approved in the UK!</a>

First Data Arrived from Bitcoin and Ethereum ETFs Approved in the UK!

Bitcoin Sistemi EN

Other articles published on Jun 10, 2024

MAGA, STRUMP memecoins tumble amid Trump Media’s new SEC filing

Binance Surpasses 200M Users and $1B in Assets, A Milestone in Crypto Evolution

Bitcoin Cash Weekly News Special BLISS Conference Edition. May 15 2024 DAY 2

Aptos crypto gains momentum, hits $8.41 – What’s fueling the surge?

Orbit Chain Exploiter Moves $47.7M to Tornado Cash After Months of Inactivity

HSBC China Breaks Ground with e-CNY Services for Corporate Clients

Join our free newsletter for daily crypto updates!