英国拥抱加密货币：伦敦证券交易所将推出比特币、以太坊 ETN

作为一项对加密货币友好的重大举措，英国伦敦证券交易所 (LSE) 将于 5 月 28 日推出比特币和以太币的交易所交易票据 (ETN)。此举针对专业投资者和交易员，将英国定位为加密货币业务和投资的中心。

United Kingdom Embraces Cryptocurrency Integration with London Stock Exchange Exchange Traded Note Launch

英国拥抱加密货币整合并推出伦敦证券交易所交易所交易票据

In a significant development for the cryptocurrency industry, the United Kingdom has announced its intention to merge traditional regulated markets with the digital asset realm. Commencing on May 28, 2024, the London Stock Exchange (LSE) will debut exchange traded notes (ETNs) linked to Bitcoin and Ethereum, two of the most prominent cryptocurrencies.

英国宣布打算将传统监管市场与数字资产领域合并，这是加密货币行业的一项重大发展。从 2024 年 5 月 28 日开始，伦敦证券交易所 (LSE) 将首次推出与比特币和以太坊这两种最著名的加密货币挂钩的交易所交易票据 (ETN)。

ETNs: A Bridge Between Traditional and Cryptocurrency Markets

ETN：传统市场与加密货币市场之间的桥梁

ETNs, introduced by Barclays Bank in 2006, are investment vehicles that facilitate the trading of various assets, including commodities and currencies. They are issued by banks as unsecured debt securities and track the performance of an index. In the case of the LSE's ETNs, the underlying indices are Bitcoin and Ethereum, whose recent price surges have fueled the ongoing bull run in the cryptocurrency market.

ETN 由巴克莱银行于 2006 年推出，是促进包括商品和货币在内的各种资产交易的投资工具。它们由银行作为无担保债务证券发行，并跟踪指数的表现。就伦敦证券交易所的 ETN 而言，基础指数是比特币和以太坊，其最近的价格飙升推动了加密货币市场的持续牛市。

LSE's Crypto ETN Strategy

伦敦证券交易所的加密货币 ETN 策略

The LSE has established specific guidelines for financial institutions seeking to issue ETNs on its platform. All crypto ETNs must be backed by physical cryptocurrency assets, with the underlying Bitcoin and Ethereum assets held by a custodian licensed for Anti-Money Laundering compliance in the United States, United Kingdom, or European Union.

伦敦证券交易所为寻求在其平台上发行 ETN 的金融机构制定了具体准则。所有加密 ETN 都必须由实物加密货币资产支持，基础比特币和以太坊资产由在美国、英国或欧盟获得反洗钱合规许可的托管人持有。

Tradability and Settlement

交易与结算

Crypto ETNs are traded on their designated segments and settled through Euroclear UK & Ireland or Euroclear Bank & Clear Stream Bank (ICSD). This ensures transparency, efficiency, and compliance within the trading process.

加密货币 ETN 在其指定部分进行交易，并通过 Euroclear UK & Ireland 或 Euroclear Bank & Clear Stream Bank (ICSD) 进行结算。这确保了交易流程的透明度、效率和合规性。

Tax Implications

税务影响

ETN investors are liable for taxation only upon realizing profits from their investments, providing a potential tax advantage compared to direct cryptocurrency ownership.

ETN 投资者只有在实现投资利润时才需要纳税，与直接拥有加密货币相比，这提供了潜在的税收优势。

Risks Associated with ETNs

与 ETN 相关的风险

ETNs are not overseen by a board of directors and carry credit risk, as they represent unsecured debt. Additionally, their liquidity may be limited, and investors may face holding-period risk due to potential price fluctuations in the underlying indices.

ETN 不受董事会监督，并且存在信用风险，因为它们代表无担保债务。此外，其流动性可能有限，投资者可能因基础指数的潜在价格波动而面临持有期风险。

Benefits for the United Kingdom

对英国的好处

The United Kingdom's decision to embrace cryptocurrency integration through ETNs reflects its commitment to becoming a global hub for the digital asset industry. It aligns with the government's strategy to capitalize on the rapidly expanding cryptocurrency sector, which is currently valued at an estimated $2.60 trillion. By providing a regulated platform for crypto ETNs, the LSE aims to attract institutional investors and foster innovation within the UK's financial ecosystem.

英国决定通过 ETN 进行加密货币整合，反映了其致力于成为数字资产行业全球中心的承诺。它符合政府利用快速扩张的加密货币行业的战略，该行业目前价值估计为 2.6 万亿美元。通过为加密 ETN 提供受监管的平台，伦敦证券交易所旨在吸引机构投资者并促进英国金融生态系统内的创新。

Implications for Investors

对投资者的影响

Crypto ETNs provide investors with an opportunity to gain exposure to the cryptocurrency market without the complexities of owning and storing digital assets directly. They offer a more accessible and potentially less risky alternative to direct cryptocurrency investment. However, investors must carefully consider the risks associated with ETNs before making any investment decisions.

加密 ETN 为投资者提供了接​​触加密货币市场的机会，而无需直接拥有和存储数字资产的复杂性。它们提供了一种比直接加密货币投资更容易获得且风险可能更低的替代方案。然而，投资者在做出任何投资决定之前必须仔细考虑与 ETN 相关的风险。

Conclusion

结论

The launch of crypto ETNs on the London Stock Exchange is a significant step in the convergence of traditional finance and digital assets. It demonstrates the United Kingdom's commitment to supporting the growth of the cryptocurrency industry while maintaining regulatory oversight. As the cryptocurrency market continues to evolve, ETNs are poised to play an increasingly important role as a bridge between these two worlds, offering investors greater access and investment opportunities within the digital asset landscape.

伦敦证券交易所推出加密 ETN 是传统金融与数字资产融合的重要一步。它表明英国致力于支持加密货币行业的发展，同时保持监管监督。随着加密货币市场的不断发展，ETN 将作为这两个世界之间的桥梁发挥越来越重要的作用，为投资者在数字资产领域提供更多的机会和投资机会。