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In a follow-up to the Stock Exchange Notice issued on March
11, 2024, the London Stock Exchange (LSE) has disclosed its intention to
commence accepting applications for the admission to trading of Bitcoin and
Ethereum Crypto Exchange-Traded Notes (ETNs) from April 8, 2024.
The Exchange’s decision is contingent upon the approval of
the base prospectuses by the Financial Conduct Authority (FCA), which is
necessary for listing Crypto ETNs on the Main Market and the Official List of
the FCA.
Pending regulatory approval, the proposed date for the commencement of trading
for these Crypto ETN securities is slated for May 28, 2024.
The LSE has strategically opted to launch the market for
Crypto ETNs on May 28 to facilitate the maximum participation of issuers on the
inaugural trading day. This choice of date factors in the necessity for issuers
to meet the eligibility criteria outlined in the Crypto ETN factsheet.
Additionally, it allows ample time for issuers planning to list securities on
the launch date to compile the requisite documentation to establish a Crypto
ETN program, including obtaining FCA approval for the base prospectus.
*LSE TO ACCEPT APPLICATIONS FOR BITCOIN, ETHEREUM ETN ADMISSION: BBG
— Tree News (@News_Of_Alpha) March 11, 2024
Compliance Crucial: Standards for Participation in LSE’s
Crypto ETN Debut
Issuers intending to establish a Crypto ETN program for
listing securities on the Main Market on May 28, 2024, are required to furnish
the Exchange with necessary information no later than April 15, 2024. This
includes a detailed letter outlining how the issuer and/or the Crypto ETN meet
the stipulated requirements as per the Crypto ETN factsheet, along with a draft
of the base prospectus indicating the inclusion of disclosures about
these requirements.
However, issuers must adhere to Admission and Disclosure
Standards to partake in the first day of trading of Crypto ETNs on May 28,
2024. Failure to satisfy these standards will result in exclusion from
participation. Specifically, issuers will be ineligible if they fail to
demonstrate compliance with the requirements outlined in the Crypto ETN
factsheet, submit their application for admission post the April 15, 2024
deadline, or if their base prospectus fails to secure FCA approval by midday on
May 22, 2024.
In a follow-up to the Stock Exchange Notice issued on March
11, 2024, the London Stock Exchange (LSE) has disclosed its intention to
commence accepting applications for the admission to trading of Bitcoin and
Ethereum Crypto Exchange-Traded Notes (ETNs) from April 8, 2024.
The Exchange’s decision is contingent upon the approval of
the base prospectuses by the Financial Conduct Authority (FCA), which is
necessary for listing Crypto ETNs on the Main Market and the Official List of
the FCA.
Pending regulatory approval, the proposed date for the commencement of trading
for these Crypto ETN securities is slated for May 28, 2024.
The LSE has strategically opted to launch the market for
Crypto ETNs on May 28 to facilitate the maximum participation of issuers on the
inaugural trading day. This choice of date factors in the necessity for issuers
to meet the eligibility criteria outlined in the Crypto ETN factsheet.
Additionally, it allows ample time for issuers planning to list securities on
the launch date to compile the requisite documentation to establish a Crypto
ETN program, including obtaining FCA approval for the base prospectus.
*LSE TO ACCEPT APPLICATIONS FOR BITCOIN, ETHEREUM ETN ADMISSION: BBG
— Tree News (@News_Of_Alpha) March 11, 2024
Compliance Crucial: Standards for Participation in LSE’s
Crypto ETN Debut
Issuers intending to establish a Crypto ETN program for
listing securities on the Main Market on May 28, 2024, are required to furnish
the Exchange with necessary information no later than April 15, 2024. This
includes a detailed letter outlining how the issuer and/or the Crypto ETN meet
the stipulated requirements as per the Crypto ETN factsheet, along with a draft
of the base prospectus indicating the inclusion of disclosures about
these requirements.
However, issuers must adhere to Admission and Disclosure
Standards to partake in the first day of trading of Crypto ETNs on May 28,
2024. Failure to satisfy these standards will result in exclusion from
participation. Specifically, issuers will be ineligible if they fail to
demonstrate compliance with the requirements outlined in the Crypto ETN
factsheet, submit their application for admission post the April 15, 2024
deadline, or if their base prospectus fails to secure FCA approval by midday on
May 22, 2024.
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