伦敦证券交易所将推出加密货币交易所交易票据

伦敦证券交易所 (LSE) 将于 5 月 28 日推出比特币和以太币加密货币交易所交易票据 (ETN)，目前正在等待英国金融行为监管局 (FCA) 的批准。由于目前 FCA 法规禁止零售加密衍生品和 ETN，这些 ETN 将以实物形式支持，无杠杆，并且仅向专业投资者开放。

London Stock Exchange to Launch Cryptocurrency Exchange-Traded Notes

伦敦证券交易所将推出加密货币交易所交易票据

The London Stock Exchange (LSE) has announced its intention to introduce cryptocurrency Exchange-Traded Notes (ETNs) that track Bitcoin and Ether on May 28.

伦敦证券交易所 (LSE) 宣布有意于 5 月 28 日推出追踪比特币和以太币的加密货币交易所交易票据 (ETN)。

Investment firms seeking to issue these crypto ETNs must submit applications by April 8, subject to approval by the UK's Financial Conduct Authority (FCA). Additionally, issuers are required to provide a draft prospectus and a compliance letter by April 15 to comply with ETN regulations.

寻求发行这些加密 ETN 的投资公司必须在 4 月 8 日之前提交申请，并获得英国金融行为监管局 (FCA) 的批准。此外，发行人必须在 4 月 15 日之前提供招股说明书草案和合规信函，以遵守 ETN 法规。

While there is significant interest from investors, these crypto ETNs will initially be available only to professional investors. This is due to the FCA's ban on the retail sale of crypto derivatives and ETNs, which has been in effect since January 2021.

尽管投资者对此表现出浓厚的兴趣，但这些加密货币 ETN 最初仅向专业投资者开放。这是由于 FCA 自 2021 年 1 月起生效的加密货币衍生品和 ETN 零售禁令。

To meet FCA requirements, crypto ETNs must be physically backed, non-leveraged, and denominated in Bitcoin or Ether. They must also have a reliable value based on market prices and be held in cold storage by licensed custodians in the UK, EU, or US.

为了满足 FCA 的要求，加密货币 ETN 必须有物理支持、无杠杆且以比特币或以太币计价。它们还必须具有基于市场价格的可靠价值，并由英国、欧盟或美国的许可托管人冷藏保存。

Issuers may submit up to three different currency lines for their ETNs, and early discussions with the LSE are recommended due to specific admission timelines. This development parallels the recent approval of spot Bitcoin exchange-traded funds by the US Securities and Exchange Commission in January, although those funds are also not accessible to retail investors.

发行人最多可以为其 ETN 提交三种不同的货币额度，并且由于具体的准入时间表，建议尽早与伦敦证券交易所进行讨论。这一进展与美国证券交易委员会最近在一月份批准现货比特币交易所交易基金类似，尽管这些基金也不适用于散户投资者。

The FCA's plans for the coming years include intensifying efforts to combat crypto market abuse and enhancing monitoring systems for market integrity. These measures align with previous actions, such as the implementation of new regulations for crypto-related marketing in October 2022.

FCA 未来几年的计划包括加大力度打击加密货币市场滥用行为，并加强市场诚信监控系统。这些措施与之前的行动一致，例如 2022 年 10 月实施加密货币相关营销新规定。

The LSE's launch of crypto ETNs for professional investors signifies a cautious approach to regulation amidst growing interest in digital assets. While retail investors may not have direct access to these products initially, the regulatory landscape is evolving, and further developments in the cryptocurrency market are expected.

The LSE's launch of crypto ETNs for professional investors signifies a cautious approach to regulation amidst growing interest in digital assets. While retail investors may not have direct access to these products initially, the regulatory landscape is evolving, and further developments in the cryptocurrency market are expected.