Crypto Shuttle News

Tag: Opens

  • LSE Opens Doors to Bitcoin and Ethereum ETN Applications

    LSE Opens Doors to Bitcoin and Ethereum ETN Applications

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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.

    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.

    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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  • Bitcoin inches past $38K as Wall Street opens to strange calm on Russia sanctions

    Bitcoin inches past $38K as Wall Street opens to strange calm on Russia sanctions

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    Bitcoin (BTC) recovered to $38,000 as Wall Street opened on Feb. 22 amid a tense atmosphere over geopolitical instability. 

    BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

    Bitcoin tiptoes around macro cues

    Data from Cointelegraph Markets Pro and TradingView showed an eerily calm start to the first Wall Street session of the week for both stocks and crypto.

    Fears of a dramatic bout of volatility accompanying the open thanks to Feb. 21’s announcement by Russian President Vladimir Putin that he would recognize two breakaway republics in eastern Ukraine had been high.

    Sanctions, still being announced at the time of writing, were likewise assumed to be about to fuel the fire but on the day, there was little movement.

    The S&P 500 was all but flat thirty minutes after trading began, leaving Russian markets as the main losers and gold as the standout winner.

    “I think that we’re going to open in the red and then, immediately bounce up on the risk-on assets and have a slight correction on gold,” Cointelegraph contributor Michaël van de Poppe previously forecast.

    Fellow trader and analyst Scott Melker meanwhile focused attention on the potential for the Russia-Ukraine debacle to influence policy at the United States Federal Reserve.

    According to banking giant JPMorgan, the effect of a potential conflict could be to make the Fed abandon the veracity of its planned interest rate hikes this year.

    According to a note published Feb. 22 quoted by various media outlets, analysts at JPMorgan believe that the trigger for a Fed rethink would come in the form of commodity price increases.

    “Russia-Ukraine tension is a low earnings risk for U.S. corporates, but an energy price shock amid an aggressive central bank pivot focused on inflation could further dampen investor sentiment and growth outlook,” they wrote.

    The sanctions meanwhile held off on all-out economic retaliation, with Russia’s two largest state-owned banks, Sberbank and VTB, left untouched.

    Traders take Bitcoin’s recovery one step at a time

    Looking ahead on Bitcoin, popular trader Anbessa meanwhile eschewed calm as BTC/USD conformed to expectations without a significant trend violation.

    Related: Bitcoin Mayer Multiple returns to July 2021 levels in fresh sign $37K BTC is a long-term buy

    A potential support/resistance flip near $37,700 was on the cards, he said, this hopefully becoming an important feature for the higher timeframe chart going forward.

    As Cointelegraph reported, however, Bitcoin and altcoins remain off the radar for the majority of mainstream consumers, with mostly large-volume institutional players and whales maintaining meaningful participation.

    “If we are bleeding new users but still have heavy dilution and retail outflows. There is no recovery. Maybe for BTC. But not alts far out on the risk curve,” fellow trader Pentoshi added in his own discussion of the macro environment.