London Stock Exchange Will Start Market for Bitcoin and Ether ETNs May 28
The stock exchange will accept applications for trading bitcoin and ether crypto exchange traded notes from April 8.
Discussion
This makes 0 sense. So you can buy and ETN of BTC or ETH (which is just a gamble on an item going up or down).
But you CANT buy a Spot ETF which buys the real asset so your risk is based on BTC not the Bank balance sheet.
Also if your in the 1% you can buy as much of these ETN's as you want but the other 99% can only buy $3000 a month of actual BTC (according to UK 2023 Financial Services Act)
The irony is when the 1% gambles on the ETN and Bank can't cover its losses it will be the 99% that cover the "Too Big to Fail" bank. To pay the 1% person their winnings.
It is clear who the bank laws protect...