UK Watchdog Says It Will Not Object to Crypto ETN Listing Requests

[sirty143]

UK Watchdog Says It Will Not Object to Crypto ETN Listing Requests

The United Kingdom’s Financial Conduct Authority has said it will not object to requests by recognised investment exchanges to launch crypto-backed exchange-traded notes... See more for yourself here.

Your opinion is greatly appreciated.

[electronicash]

this is the same as ETF in US so it should drive more demands from the institutions in UK. but i think they will still start with BTC. what happens in US, will also happen in the rest part of the world so it wouldn't be surprising to see news like this coming from Hongkong where institutional adoption will also take place.

with this kind of news the well known personalities in crypto such as Cattie Woods may once again change her prediction about BTC in 2030. they all will. bringing more hype.

[hugeblack]

After US ETFs are approved, any form of centralized ownership of Bitcoin will be welcomed and not a major problem, so bonds, stocks, and central tokenization of Bitcoin will be permitted as long as it is highly regulated and exposure to Bitcoin is in terms of price and not an actual purchase of Bitcoin.

[electronicash]

After US ETFs are approved, any form of centralized ownership of Bitcoin will be welcomed and not a major problem, so bonds, stocks, and central tokenization of Bitcoin will be permitted as long as it is highly regulated and exposure to Bitcoin is in terms of price and not an actual purchase of Bitcoin.

seem correct.  it isn't like the spot market.
even when they say coinbase holds those BTC the institutions are buying, the reality might be different. this is somewhat like allowing the institutions to print BTC for their traders. if these traders all ask for the BTC to be sent on their wallets, this is where things gonna get weird.

we're happy though. if it were max keiser talking, he'll say the worse but he isn't heard and being talked anymore in the crypto forums.

[yhiaali3]

I honestly don't know if there is a difference between ETN and ETF?

In any case, it is not surprising that after approval was obtained in the United States, all countries followed it, especially the United Kingdom, which follows the United States in everything.

It is clear that the idea of ​​transforming decentralized cryptocurrencies into centralization through these funds has gained the approval of governments under the pretext of protecting users:

Specifically, these laws have been employed to protect U.K.-based users from unfair or misleading crypto marketing and to alert people to crypto scams, the FCA said.

[Kemarit]

It's a welcoming news, I personally thought that UK watchdog or at least European financial watchdogs are really anti-crypto. Or at least they have a hard stance because of it's volatility, and centralization and the old excuse of it being used by criminals.

But since it become a financial instrument now, maybe there were pressures from the influential or lobbyist to have ETN listing in UK as well. And just like in the US wherein in passed, I think this could also be the case in UK, opening up floodgates of investors and money flowing in in the crypto industry.

[bitterguy28]

UK Watchdog Says It Will Not Object to Crypto ETN Listing Requests

The United Kingdom’s Financial Conduct Authority has said it will not object to requests by recognised investment exchanges to launch crypto-backed exchange-traded notes... See more for yourself here.

Your opinion is greatly appreciated.

I wish this good news will add sympathy and support to the crypto community(bitcoin to be specific) singe there are a dropping of value happening after this news being released.
Wondering why there is a sudden opposite effect while this is one good news to be expected happening any time soon.