According to Bloomberg, the Financial Conduct Authority (FCA), the UK’s financial regulator, has approved the first cryptocurrency exchange-traded products (ETPs), marking a milestone in the UK’s approach to digital asset investment.

An ETP is a type of security traded on stock exchanges, similar to individual stocks. ETPs are designed to track the performance of a specific index, commodity, currency, or other benchmark, allowing investors to gain exposure to various asset classes without directly owning the underlying assets. ETPs can include different structures, such as exchange-traded funds (ETFs), exchange-traded notes (ETNs), and exchange-traded commodities (ETCs).

An ETF is a specific type of ETP that pools together various assets, such as stocks, bonds, or commodities, into a single fund. ETFs aim to replicate the performance of a specific index or benchmark and are structured as investment funds. When you invest in an ETF, you own shares of the fund, which, in turn, owns the underlying assets. ETFs are typically regulated under investment company laws, which provide certain protections and requirements for investors. Additionally, ETFs can distribute dividends to investors if the underlying assets generate income.

The main difference between ETPs and ETFs lies in their structure and scope. ETPs is a broad category that includes various types of exchange-traded securities, not limited to funds. They can encompass notes and commodities as well. While ETFs are a subset of ETPs and are specifically structured as investment funds, other types of ETPs, like ETNs, are debt instruments issued by banks. ETFs are regulated under specific investment fund regulations, while other types of ETPs, such as ETNs, may have different regulatory frameworks. Moreover, ETNs carry the credit risk of the issuer as they are debt securities, whereas ETFs do not have this risk since they own the underlying assets directly. Another distinction is that ETFs can distribute dividends to investors, whereas ETNs do not because they do not directly own the underlying assets.

Per Bloomberg’s article, WisdomTree Inc. announced today that it has received FCA approval to list two physically-backed crypto ETPs, which will track Bitcoin and Ether, on the London Stock Exchange. These products are expected to begin trading as early as 28 May 2024.

Several other issuers, including ETC Group, 21Shares, and CoinShares, have also applied to list their crypto products in the UK. As of midday on Wednesday, the FCA’s approval list included entries from WisdomTree, 21Shares, and Invesco Digital Markets Plc, all set to be part of the first batch of trading on the approval date.

Despite this advancement, the FCA has implemented stringent rules surrounding these products. WisdomTree’s Bitcoin and Ether ETPs, although physically-backed, are only available to professional investors. This restriction is stricter compared to the United States, where the approval of spot Bitcoin ETFs in January has led to significant market growth. Bloomberg says that in the US, these ETFs now manage a combined $59 billion, which is nearly five times the total for similar crypto vehicles traded in Europe.

ETPs linked to cryptocurrencies have been trading on other European stock exchanges for years. The approval of such products by the US Securities and Exchange Commission (SEC) earlier this year played a crucial role in propelling Bitcoin to a record high in March and has facilitated broader adoption among retail and institutional investors.

However, not all global markets have seen the same enthusiasm. In Hong Kong, despite the approval of Bitcoin and Ether ETFs, investor response has been lukewarm. This contrast highlights the varying degrees of market maturity and investor interest in different regions.

ETC Group confirmed that its application is still under review, while 21Shares has already secured approval. CoinShares and the FCA declined to comment on their status, and Invesco had no immediate response.

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The research analysis on the global Cryptocurrency Mining market report 2024 offers a close watch on top industry rivals along with briefings on their company profiles, strategical surveys, micro as well as macro industry trends, futuristic scenarios, analysis of pricing structure, and an all-encompassing overview of the Cryptocurrency Mining market circumstances in the forecast period between 2024 and 2033.

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List of Major Market Participants

Canaan Inc., Argo Blockchain, HIVE Blockchain Technologies Ltd., Bit Digital, Inc., Riot Blockchain, Inc., ViaBTC, Braiins Systems s.r.o., F2Pool, Genesis Mining Ltd., BITMAIN Technologies Holding Company, Hut 8 Mining Corp., Miningstore.com, MININGSKY (a subsidiary of Skychain Technologies Inc.), iMining Technologies Inc., MinerGate, ASICminer Company, INNOSILICON Technology Ltd., Shenzhen MicroBT Electronics Technology Co., Ltd, GMO Internet, Core Scientific, among others.

This market study offers a thorough examination of the size of the global Cryptocurrency Mining market, as well as regional and national market sizes, segmentation market growth, market share, competitive landscape, sales analysis, the effects of domestic and foreign market players, price chain optimisation, trade laws, recent developments, opportunities analysis, global Cryptocurrency Mining strategic market growth analysis, product launches, the expanding space market, and technological advancements. Segments of the global Cryptocurrency Mining market include material, end user, channel, and geography.

The competitive landscape for Cryptocurrency Mining includes information on each vendor, as well as company summaries, total financial revenue, market potential, global reach, sales and revenue generated by Cryptocurrency Mining, market share, price, production locations and facilities, SWOT analysis, and product launches. This analysis offers the Cryptocurrency Mining sales, revenue, and market share for each player covered in this report for the period 2024-2033.

Global Cryptocurrency Mining Market, By Type

Bitcoin

Ethereum

Bitcoin Cash

Ripple

Litecoin

Dash

Others

Global Cryptocurrency Mining market, By Offering

Hardware

Software

Global Cryptocurrency Mining Market, By End User

Trading

E-commerce and Retail

Peer-to-Peer Payment

Remittance

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Regional Segmentation of the Global Cryptocurrency Mining Market

North America (the United States, Canada, and Mexico)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

Europe (Germany, France, UK, Russia, and Italy)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

South America (Brazil, Argentina, Colombia, etc.)

Responses that the report accepts:

• The size of the market and its growth rate over the next few years.

• The main things that drive the Cryptocurrency Mining Market.

• Key market trends that are making the Cryptocurrency Mining Market grow faster.

• Threats to the growth of the market.

• Key sellers of Cryptocurrency Mining Market.

• SWOT study in depth.

• The chances and risks that the current sellers in the Global Cryptocurrency Mining Market face.

• Trending factors that affect the market in different parts of the world.

• Strategic efforts are centred on the top vendors.

• A PEST study of the market in the five most important areas.

Contact Info

Company Name: Infinitive Data Expert

Contact Person: Krishnav Yadav

Email: info@infinitivedataexpert.com/

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Infinitive Data Expert is a leading distributor of market research report with more than 600+ global clients. As a market research company, we take pride in equipping our clients with insights and data that holds the power to truly make a difference to their business. Our mission is singular and well-defined – we want to help our clients envisage their business environment so that they are able to make informed, strategic and therefore successful decisions for themselves.

This release was published on openPR.

As the cryptocurrency market eagerly awaits the potential approval of an Ethereum Exchange-Traded Fund (ETF), investors are on the lookout for coins that could benefit from this development.

The approval of an Ethereum ETF would mark a major milestone for the crypto industry, potentially opening the doors to increased institutional investment and mainstream adoption.

In this article, we will explore the top three coins to consider buying now in anticipation of the ETH ETF approval: Ethereum (ETH), Optimism (OP), and Arbitrum (ARB).

Also read: Chainlink Weekly Price Prediction: Can LINK Hit $20?

Ethereum (ETH)

Ethereum is the obvious choice for investors looking to capitalize on the potential Ethereum ETF approval. As the pioneer of smart contracts and decentralized applications (dApps), Ethereum has established itself as the backbone of the decentralized finance (DeFi) ecosystem.

Currently trading at $3,789.53, ETH has experienced a remarkable 22.07% increase in the past 24 hours, with a 24-hour low of $3,078.06 and a high of $3,762.00. The anticipation of the ETF approval has already sparked interest in Ethereum, and if the approval comes to fruition, ETH could potentially see even further price appreciation.

Also read: Cryptocurrency: Top 3 Meme Coins That Can Double Your Investment In 2024

Optimism (OP)

Optimism, a layer 2 scaling solution, has been gaining traction among investors and developers alike.

Currently trading at $2.92, OP has seen a 14.69% increase in the past 24 hours, with a 24-hour low of $2.50 and a high of $2.96. As the demand for layer 2 solutions grows and the anticipation of the Ethereum ETF approval builds, Optimism is well-positioned to benefit from the increased attention and potential influx of investment.

Also read: Ethereum (ETH) Forecasted To Hit $10,000: Here’s When

Arbitrum (ARB)

Arbitrum, another layer 2 scaling solution for Ethereum utilizes optimistic rollups to provide a high-speed, low-cost environment for DeFi applications and other Ethereum-based projects.

Currently trading at $1.19, ARB has experienced a remarkable 21.98% increase in the past 24 hours, with a 24-hour low of $0.968 and a high of $1.19. As more projects migrate to Arbitrum and the anticipation of the Ethereum ETF approval continues to build, ARB could potentially see further price appreciation and increased demand.

The potential approval of an ETH ETF has generated excitement and anticipation within the cryptocurrency community. As investors seek to capitalize on this potential milestone, ETH, Optimism, and Arbitrum have emerged as top contenders for consideration.

Also read: Ripple Unveils Its Total XRP Holdings in Q1 Report