Trading of Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs) has officially commenced on the London Stock Exchange (LSE), making it the sixth-largest stock exchange in the world to offer such products. The launch of ETH and BTC ETN trading was announced by the LSE, with products from WisdomTreeEU and 21Shares being introduced. ETNs are a type of exchange-traded product (ETP) that track an index and are not backed by underlying assets, distinguishing them from exchange-traded funds (ETFs). However, WisdomTree has stated that its two products, WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW), will be fully backed ETPs. 21Shares has also confirmed that its four crypto-asset ETNs will be fully backed ETPs. All six ETN products are now available for trading on the LSE.
