Trading of Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs) has officially commenced on the London Stock Exchange (LSE), making it the sixth-largest stock exchange in the world to offer these cryptocurrency products.

The LSE announced the launch of ETH and BTC ETN trading today, featuring products from WisdomTreeEU and 21Shares. ETNs are a type of exchange-traded product (ETP) that differ from exchange-traded funds (ETFs) in that they are debt-carrying vehicles that track an index, rather than being backed by underlying assets.

However, WisdomTree, one of the approved ETP creators, stated that its two products, WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW), will be 100% backed ETPs. They have received approval from the Financial Conduct Authority (FCA) for their prospectus relating to crypto ETPs. These ETPs, which will be available exclusively to professional investors initially, are expected to be listed on the LSE on Tuesday, May 28th.

Similarly, 21Shares also confirmed that their four crypto-asset ETNs will be fully backed ETPs, making them available to professional investors. The launch of these ETNs marks 21Shares’ official entry into the UK market.

All six ETN products have commenced trading on the LSE today, allowing investors to gain exposure to Bitcoin and Ethereum through these regulated and secure investment vehicles.

Please note that The Daily Hodl is not providing investment advice, and investors should conduct their own research and due diligence before engaging in high-risk investments in cryptocurrencies or digital assets.