機構加密產品將在倫敦證券交易所首次亮相

倫敦證券交易所(LSE) 計劃於5 月28 日向機構投資者推出比特幣(BTC) 和以太幣(ETH) 金融產品市場。此舉被視為英國朝著成為加密貨幣中心的目標邁出的一步，但金融機構行為監理局 (FCA) 表示，出於對投資者保護的擔憂，這些產品將不會向零售消費者提供。倫敦證券交易所的舉措預計將引起機構和行業利益相關者的興趣，這可能會為英國的加密貨幣帶來更積極的一年。

Institutional Crypto Products to Debut on London Stock Exchange

機構加密產品將在倫敦證券交易所首次亮相

The London Stock Exchange (LSE), a prominent financial hub, has announced May 28th, 2024, as the commencement date for trading in Bitcoin (BTC) and Ethereum (ETH) financial products tailored specifically for institutional and professional investors.

著名金融中心倫敦證券交易所 (LSE) 宣布 2024 年 5 月 28 日為專門為機構和專業投資者量身定制的比特幣 (BTC) 和以太坊 (ETH) 金融產品交易的開始日期。

Cryptocurrency Exchange-Traded Notes (ETNs)

加密貨幣交易所交易票據 (ETN)

The LSE's launch of crypto-based Exchange-Traded Notes (ETNs) marks a significant milestone in the institutional adoption of digital assets. ETNs are akin to American Exchange-Traded Funds (ETFs) in that they track an underlying index or metric, but unlike ETFs, they do not hold the underlying assets they track.

倫敦證券交易所推出基於加密貨幣的交易所交易票據（ETN）標誌著機構採用數位資產的一個重要里程碑。 ETN 類似於美國交易所交易基金 (ETF)，因為它們追蹤基礎指數或指標，但與 ETF 不同的是，它們不持有它們追蹤的基礎資產。

Conditions for Crypto ETN Listing

加密貨幣 ETN 上市條件

To list a Crypto ETN (cETN) on the LSE, applicants must submit their requests from April 8th to April 15th, 2024. Notably, the LSE requires cETNs to be physically backed, with the underlying crypto assets stored "wholly or principally" in cold storage wallets. Alternative storage methods mandate audit reports from qualified third parties.

要在倫敦證券交易所上市加密貨幣ETN (cETN)，申請人必須在2024 年4 月8 日至4 月15 日期間提​​交請求。值得注意的是，倫敦證券交易所要求cETN 必須有實體支持，基礎加密資產「全部或主要」儲存在冷庫中儲存錢包。替代儲存方法要求合格的第三方提供審核報告。

FCA's Role

FCA 的角色

The launch of cETNs follows the recent announcement by the UK's Financial Conduct Authority (FCA), which stated that it would not object to requests from Recognized Investment Exchanges (RIEs) to establish crypto-backed ETNs. However, the FCA maintains its stance that cETNs and crypto derivatives are not suitable for retail consumers due to their largely unregulated nature and potential for causing harm.

在推出 cETN 之前，英國金融行為監管局 (FCA) 最近宣布，不會反對認可投資交易所 (RIE) 建立加密貨幣支持的 ETN 的請求。然而，FCA 堅持其立場，即 cETN 和加密貨幣衍生品不適合零售消費者，因為它們基本上不受監管且有可能造成傷害。

Retail Investors Excluded

散戶除外

This stance has drawn criticism from industry experts, who argue that excluding retail investors from participating in such opportunities is unreasonable, given that they can already access risky crypto assets through approved platforms.

這一立場引起了行業專家的批評，他們認為排除散戶投資者參與此類機會是不合理的，因為他們已經可以透過批准的平台存取有風險的加密資產。

UK's Crypto Hub Ambitions

英國的加密中心野心

The UK's aspirations to become a "Crypto Hub" have faced challenges due to various factors, including mixed reception of regulations and the unpopularity of the current government. Despite these hurdles, the launch of cETNs on the LSE could spur institutional interest and pave the way for a more productive year for crypto in the UK.

英國成為「加密貨幣中心」的願望因各種因素而面臨挑戰，包括對法規的接受程度不一以及現任政府不受歡迎。儘管存在這些障礙，在倫敦證券交易所推出 cETN 可能會激發機構興趣，並為英國加密貨幣領域更加富有成效的一年鋪平道路。

Stablecoin Regulations Expected

穩定幣監管預期

The UK is also expected to implement stablecoin regulations in the summer of 2024. However, its primary focus remains on establishing a robust regulatory framework that prioritizes the prevention of money laundering, tax evasion, and other illicit crypto asset activities.

英國預計將在 2024 年夏季實施穩定幣監管。不過，其主要重點仍是建立健全的監管框架，優先防止洗錢、逃稅和其他非法加密資產活動。

Conclusion

結論

The London Stock Exchange's launch of institutional crypto products is a significant development that signals the growing institutional acceptance of digital assets. While retail investors are currently excluded from participating in cETNs, the LSE's initiative could foster broader institutional involvement and potentially contribute to the UK's goal of becoming a global crypto hub.

倫敦證券交易所推出機構加密產品是一項重大進展，標誌著機構對數位資產的接受度不斷提高。雖然散戶投資者目前被排除在 cETN 之外，但倫敦證券交易所的舉措可以促進更廣泛的機構參與，並可能有助於英國成為全球加密貨幣中心的目標。