机构加密产品将在伦敦证券交易所首次亮相

伦敦证券交易所 (LSE) 计划于 5 月 28 日向机构投资者推出比特币 (BTC) 和以太坊 (ETH) 金融产品市场。此举被视为英国朝着成为加密货币中心的目标迈出的一步，但金融机构行为监管局 (FCA) 表示，出于对投资者保护的担忧，这些产品将不会向零售消费者提供。伦敦证券交易所的举措预计将引起机构和行业利益相关者的兴趣，这可能会为英国的加密货币带来更加积极的一年。

Institutional Crypto Products to Debut on London Stock Exchange

机构加密产品将在伦敦证券交易所首次亮相

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.

著名金融中心伦敦证券交易所 (LSE) 宣布 2024 年 5 月 28 日为专门为机构和专业投资者量身定制的比特币 (BTC) 和以太坊 (ETH) 金融产品交易的开始日期。

Cryptocurrency Exchange-Traded Notes (ETNs)

加密货币交易所交易票据 (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.

伦敦证券交易所推出基于加密货币的交易所交易票据（ETN）标志着机构采用数字资产的一个重要里程碑。 ETN 类似于美国交易所交易基金 (ETF)，因为它们跟踪基础指数或指标，但与 ETF 不同的是，它们不持有它们跟踪的基础资产。

Conditions for Crypto ETN Listing

加密货币 ETN 上市条件

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.

要在伦敦证券交易所上市加密货币 ETN (cETN)，申请人必须在 2024 年 4 月 8 日至 4 月 15 日期间提交请求。值得注意的是，伦敦证券交易所要求 cETN 必须有物理支持，基础加密资产“全部或主要”存储在冷库中存储钱包。替代存储方法要求合格的第三方提供审核报告。

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，英国金融行为监管局 (FCA) 最近宣布，不会反对认可投资交易所 (RIE) 建立加密货币支持的 ETN 的请求。然而，FCA 坚持其立场，即 cETN 和加密货币衍生品不适合零售消费者，因为它们基本上不受监管且有可能造成伤害。

Retail Investors Excluded

散户投资者除外

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.

这一立场引起了行业专家的批评，他们认为排除散户投资者参与此类机会是不合理的，因为他们已经可以通过批准的平台访问有风险的加密资产。

UK's Crypto Hub Ambitions

英国的加密中心野心

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.

英国成为“加密货币中心”的愿望因各种因素而面临挑战，包括对法规的接受程度不一以及现任政府不受欢迎。尽管存在这些障碍，在伦敦证券交易所推出 cETN 可能会激发机构兴趣，并为英国加密货币领域更加富有成效的一年铺平道路。

Stablecoin Regulations Expected

稳定币监管预期

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.

英国预计将在 2024 年夏季实施稳定币监管。不过，其主要重点仍然是建立健全的监管框架，优先防止洗钱、逃税和其他非法加密资产活动。

Conclusion

结论

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.

伦敦证券交易所推出机构加密产品是一项重大进展，标志​​着机构对数字资产的接受度不断提高。虽然散户投资者目前被排除在 cETN 之外，但伦敦证券交易所的举措可以促进更广泛的机构参与，并可能有助于英国成为全球加密货币中心的目标。