WisdomTree has gained approval from the Financial Conduct Authority to launch its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange. This regulatory nod allows WisdomTree to debut its WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs, timed for the May 28 easing of UK restrictions. These ETPs, exclusive to professional investors, boast a management expense ratio of 0.35%, positioning them as some of Europe's lowest fee institutional-grade crypto ETPs.

Alexis Marinof, WisdomTree’s Head of Europe, stressed the significance of this regulatory green light in facilitating easier access to digital assets for UK-based professional investors. Marinof highlighted that FCA approval could potentially drive institutional adoption, eliminating past regulatory barriers hindering exposure to Bitcoin and other cryptocurrencies.

WisdomTree's existing offerings, listed on major European exchanges like Deutsche Börse Xetra, the Swiss Stock Exchange SIX, and Euronext, encompass eight physically backed crypto ETPs offering spot price exposure to individual coins and diversified crypto baskets.

Other issuers, such as ETC Group and CoinShares, are also gearing up to list their crypto ETPs on the LSE, adhering to the FCA’s regulatory standards. With recent guidance from the FCA, it's largely a procedural step for established ETP issuers at this juncture.

WisdomTree’s move, alongside potential interest from other major European crypto players like VanEck, signifies an increasing momentum towards regulated and institutional-grade crypto investment products in the UK market. However, retail investors are currently excluded and deemed incapable of handling Bitcoin purchases via ETPs.