Crypto Market Heats Up: New ETPs Launch in London and Europe, Coinbase Courts Major Tokens
The cryptocurrency landscape is experiencing a surge of activity with significant new product launches and exchange developments. Major financial players are expanding their crypto offerings, while exchanges are refining their listing processes, signaling growing institutional adoption and evolving market dynamics.
Key Takeaways
- BlackRock, 21Shares, WisdomTree, and Bitwise have launched Bitcoin ETPs on the London Stock Exchange following the FCA's easing of crypto restrictions.
- WisdomTree has also introduced a physically backed Stellar Lumens ETP across various European exchanges.
- Coinbase has unveiled a new "Blue Carpet" program for issuers and added Binance's BNB token to its listing roadmap.
London Welcomes New Bitcoin ETPs
The London Stock Exchange has become a new hub for cryptocurrency investment products, with BlackRock debuting its iShares Bitcoin ETP (IB1T). This launch, alongside similar offerings from 21Shares, WisdomTree, and Bitwise, marks a significant development after the Financial Conduct Authority (FCA) relaxed its ban on retail crypto investments imposed in 2021. These exchange-traded products (ETPs) allow retail investors to gain exposure to Bitcoin without directly holding the cryptocurrency, operating within a regulated market framework.
21Shares has introduced four crypto exchange-traded notes (ETNs), including Bitcoin and Ether staking products, as well as lower-fee "Core" offerings. WisdomTree's physically backed Bitcoin and Ethereum ETPs, previously exclusive to high-net-worth individuals, are now accessible through a wider range of U.K.-regulated platforms. Bitwise has also listed four ETPs on the LSE, tracking both BTC and ETH, and has reduced management fees for its Core Bitcoin ETP.
European Expansion for Stellar Lumens
WisdomTree is further broadening its crypto product suite by launching a physically backed exchange-traded product (ETP) for Stellar Lumens (XLM) across multiple European venues. This new ETP, available on the SIX Swiss Exchange and Euronext Paris and Amsterdam, with a Deutsche Börse Xetra listing planned, offers exposure to the spot price of XLM. WisdomTree positions this product as an institutional-grade entry point to Stellar's native asset, highlighting its focus on cross-border payments and tokenized assets.
Coinbase Enhances Issuer Relations and Lists BNB Roadmap
In a strategic move, Coinbase has introduced "The Blue Carpet," a revamped program designed to streamline and enhance transparency for asset issuers seeking listings. This initiative provides issuers with direct access to Coinbase's listings team, tailored guidance, and potential referral discounts for ancillary services.
Simultaneously, Coinbase has added Binance's BNB token to its listing roadmap. This decision, while not guaranteeing an immediate listing, signals a potential shift in Coinbase's approach to listing major tokens from rival platforms, especially following recent critiques regarding its listing practices. The inclusion of BNB, a key utility token for the BNB Chain ecosystem, suggests Coinbase is open to integrating prominent assets provided they meet liquidity, technical, and compliance standards.