UK’s crypto ETN is turning out to be a flop
Share link:In this post: The UK’s crypto ETNs have seen a total trading volume of just $500,000 since their launch on May 28. Unlike the US, where retail investors can trade, UK crypto ETNs are only available to professional investors, limiting their market appeal. 21Shares, WisdomTree, and Invesco are the main issuers of these ETNs, with WisdomTree accounting for the majority of the trading volume.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any inve
The launch of the UK’s cryptocurrency exchange-traded notes (ETNs) on the London Stock Exchange (LSE) has been nothing short of a disaster compared to the volume of ETFs traded in the US. Since their debut on May 28, the total trading volume has been a pitiful $500,000.
Also Read: London Stock Exchange to launch Bitcoin and Ethereum ETNs
In stark contrast, the US spot Bitcoin ETF recorded a daily trading volume of $2.5 billion on June 7. Clearly, the UK’s entry into the crypto ETN market is falling flat. The ETNs, backed by Bitcoin and Ether, were approved by the Financial Conduct Authority (FCA) but have seen minimal interest.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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