Monday, 17 June 2024

Crypto News

Major boost for Bitbot as Bitcoin and Ethereum ETPs debut on London Stock Exchange

Bitcoin and Ethereum ETPs debut on London Stock Exchange

  • UK’s FCA approves Bitcoin and Ethereum ETPs.
  • The ETPs will launch on the London Stock Exchange on May 28.
  • Bitbot stands to benefit from the crypto ETPs approval, which is a mjor boost for the entire crypto industry.

Bitcoin and Ethereum exchange-traded products (ETPs) are set to debut on the London Stock Exchange (LSE) after the UK Financial Conduct Authority (FCA) approved the ETPs by WisdomTree.

Simultaneously, Bitbot, the world’s first AI-powered Telegram trading bot, is gaining traction in the crypto trading community, poised to leverage this momentum for its burgeoning platform.

Approved Bitcoin and Ethereum ETPs to begin trading on May 28

On May 22, the FCA approved WisdomTree’s physical Bitcoin ETP (WBTC) and Ethereum ETP (WETH). The crypto ETPs are set to begin trading on May 28 according to reported ETF Stream.

This approval follows the retail ban on crypto trading and the sale of crypto derivatives enacted in January 2021, restricting these new financial instruments to professional and institutional investors.

Alexis Marinof, head of Europe at WisdomTree, highlighted that this regulatory green light would simplify access to crypto-backed products for UK-based institutional investors who previously had to navigate overseas exchanges.

The FCA’s decision aligns with global trends where governments are gradually integrating cryptocurrency into traditional financial markets.

The approval of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) set a precedent, driving billions into these funds weekly.

Other regions, like Hong Kong, have also ventured into crypto ETFs, although with varying degrees of success.

These developments underscore the growing acceptance and institutionalization of digital assets worldwide.

Bitbot’s strategic position

Amidst these advancements, Bitbot stands at the forefront of the AI and Telegram bot revolution, two rapidly growing trends in the crypto industry.

Bitbot transforms market data into actionable insights, enabling decisive trading moves through an intuitive Telegram interface. With over 1.2 million social media engagements, 2,498 media mentions, and a reach of 3.2 million people, Bitbot is already making significant waves in the crypto trading sector.

AI’s impact on the crypto sector is profound, valued at $27.75 billion and AI-driven solutions are enhancing…

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