After Paris and Amsterdam, Bitcoin and Ether funds are now open to investors on the London Stock Exchange. The Financial Conduct Authority (FCA), the British regulator, approved the application of asset management company WisdomTree and authorized Bitcoin and Ether ETPs.

WisdomTree, which is based in the US and has $110 billion in assets under management, is the first company to receive approval from the FCA in this sense. The firm’s Physical Bitcoin and Physical Ethereum funds will be open to professional investors (only) as of May 28. The transaction fee for both funds will be 0.35%.

Speaking on the subject, Alexis Marinof, WisdomTree’s head of European products, said: “FCA approval in this respect could result in greater institutional adoption of the asset class, as many professional investors have been unable to gain exposure to Bitcoin and other cryptocurrencies due to regulatory limitations and uncertainty – we would expect FCA approval of our crypto ETPs’ prospectus to remove those barriers to entry.”

WisdomTree is known as the first company to offer crypto ETP products in Europe. The company started to launch such products in European markets in 2019.