The U.Ok.’s Monetary Conduct Authority (FCA) mentioned it won’t object to requests from Recognised Funding Exchanges (RIEs) to construct a listed market phase for crypto asset-backed exchange-traded notes (ETNs), the regulator mentioned in a press release on Monday, an additional signal of the elevated institutionalization of cryptocurrency markets.
The merchandise can be obtainable to skilled traders, together with funding corporations and credit score establishments, the FCA mentioned.
ETNs are a sort of exchange-traded product, typically issued by a financial institution or an funding supervisor, that tracks an underlying index or belongings.
