New Listing

Invesco lists bitcoin ETP on London Stock Exchange

Follows listings from 21Shares and WisdomTree

Lauren Gibbons

Bitcoin UK

Invesco has listed its bitcoin ETP on the London Stock Exchange (LSE) after the Financial Conduct Authority (FCA) said it would accept applications for crypto exchange-traded notes (ETNs) in March.

The Invesco Physical Bitcoin ETP (BTIC) listed on the exchange this morning, carrying a total expense ratio (TER) of 0.39%.

Invesco becomes the third issuer to list crypto ETNs on the LSE, following 21Shares, which listed four bitcoin and ethereum ETNs, and WisdomTree listing one bitcoin and one ethereum exposure in May.

The crypto ETNs will only be available to professional investors.

To list on the LSE, crypto ETNs must be physically backed, non-leveraged and offer exposure to bitcoin or ethereum only.

The UK markets watchdog will still ban retail investors from accessing the products, noting that they are “ill-suited” to these consumers in a statement.

Elsewhere, Global X temporarily cut the fee of its bitcoin and ethereum ETPs to 0% until January 2025, making it the cheapest physically backed bitcoin ETP.

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