WisdomTree Financial News

Investors in the UK can now trade exchange-traded products that track Bitcoin and Ethereum through the London Stock Exchange, as the country narrows the gap with other financial leaders in digital assets.

WisdomTree received approval from the Financial Conduct Authority (FCA) on May 22 to list its cryptocurrency exchange-traded products (ETPs), WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW), on the London Stock Exchange (LSE).

ETFS Capital has called for changes in WisdomTree’s leadership, urging shareholders to vote against the re-election of certain directors.

The WisdomTree Megatrends UCITS ET listed today on Börse Xetra and will list on the London Stock Exchange on 12 December with a total expense ratio of 0.5%.

The strategy aims to provides exposure to 'high-quality and high-profitability' companies at a 'reasonable' valuation, and has a total expense ratio of 0.29%.

Asset manager WisdomTree is attempting to resubmit a spot Bitcoin (BTC) exchange-traded fund (ETF) despite previous rejections.

It will track the price and yield performance, before fees and expenses, of the WisdomTree US Efficient Core UCITS index.

WisdomTree said the ETP aimed to complement the existing WisdomTree EURO STOXX Banks 3x Daily Leveraged ETP

Bitcoin consolidated at $30,000 throughout the past week. It currently remains near the strong resistance level of $31,000, with neither bulls or bears taking control in the larger time frame. To gain momentum, buyers must restore the rate to the $31,200 zone, potentially leading to a breakout above the $31,458 resistance level. This indicates that the bulls are not rushing to secure profits, as they expect further upward movement. Bulls have shown increased interest in Bitcoin recently, driven by the positive investor sentiment, which has been fueled by notable financial institutions such as BlockRock, Fidelity, Invesco, and WisdomTree filing for Bitcoin ETFs. However, the US Securities and Exchange Commission (SEC) said these filings were inadequate last Friday, citing a lack of clarity and the need for additional information before reconsidering approval. Despite this news, BTC has maintained a positive stance well above the $30,000 level. BTC's support level currently stands at $29,500. This week will feature significant economic events in the US, including the release of the FOMC minutes for June on Wednesday, the job openings report on Thursday, and new employment numbers on Friday, which may introduce some market volatility. Meanwhile, Ethereum is trading in close proximity to the $2,000 level. Its price has gained momentum above $1,920, with immediate resistance found near $1,960 and then $2,000. Failing to surpass these resistance levels could initiate a downward correction. The current support level for Ethereum rests at $1,930.

In the firm’s annual general meeting last month (16 June), WsidomTree chair Frank Salerno lost his re-election bid to ETFS Capital nominee Tonia Pankopf