Fidelity International announced yesterday that its exchange-traded Bitcoin product, FBTC, has been admitted to trading on the London Stock Exchange, Coingape has reported.
However, due to regulatory requirements, this is only available to professional investors.
This comes after the FCA approved the listing of Bitcoin-backed exchange-traded notes for professional investors at the end of May, allowing companies such as 21Shares and WisdomTree to introduce similar products for the UK market.
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Stefan Kuhn, head of ETF and index distribution for Fidelity in Europe, sees this as a positive development, reflecting the growing acceptance and demand for digital assets.
The Fidelity Physical Bitcoin ETP, which is 100% physically backed by Bitcoin and tracks its price movement, was first launched in February 2022 on the Deutsche Börse Xetra and the SIX Swiss Exchange.