- UK’s FCA approves Bitcoin and Ethereum ETPs.
- The ETPs will launch on the London Stock Exchange on May 28.
- Bitbot stands to benefit from the crypto ETPs approval, which is a mjor boost for the entire crypto industry.
Bitcoin and Ethereum exchange-traded products (ETPs) are set to debut on the London Stock Exchange (LSE) after the UK Financial Conduct Authority (FCA) approved the ETPs by WisdomTree.
Simultaneously, Bitbot, the world’s first AI-powered Telegram trading bot, is gaining traction in the crypto trading community, poised to leverage this momentum for its burgeoning platform.
Approved Bitcoin and Ethereum ETPs to begin trading on May 28
On May 22, the FCA approved WisdomTree’s physical Bitcoin ETP (WBTC) and Ethereum ETP (WETH). The crypto ETPs are set to begin trading on May 28 according to reported& ETF Stream.
This approval follows the retail ban on crypto trading and the sale of crypto derivatives enacted in January 2021, restricting these new financial instruments to professional and institutional investors.
Alexis Marinof, head of Europe at WisdomTree, highlighted that this regulatory green light would simplify access to crypto-backed products for UK-based institutional investors who previously had to navigate overseas exchanges.
The FCA’s decision aligns with global trends where governments are gradually integrating cryptocurrency into traditional financial markets.
The approval of Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) set a precedent, driving billions into these funds weekly.
Other regions, like Hong Kong, have also ventured into crypto ETFs, although with varying degrees of success.
These developments underscore the growing acceptance and institutionalization of digital assets worldwide.
Bitbot’s strategic position
Amidst these advancements, Bitbot stands at the forefront of the AI and Telegram bot revolution, two rapidly growing trends in the crypto industry.
Bitbot transforms market data into actionable insights, enabling decisive trading moves through an intuitive Telegram interface. With over 1.2 million social media engagements, 2,498 media mentions, and a reach of 3.2 million people, Bitbot is already making significant waves in the crypto trading sector.
AI’s impact on the crypto sector is profound, valued at $27.75 billion and AI-driven solutions are enhancing fraud detection and risk management, crucial for the widespread adoption and long-term growth of cryptocurrencies.
Concurrently, Telegram trading bots have facilitated over $19 billion in trades, generating $100 million in fees, marking their emergence as a substantial force in the industry.
Bitbot leverages these trends, offering lightning-fast execution, high concurrency management, and robust security through a non-custodial model.
Furthermore, Bitbot’s roadmap outlines its strategic plans to enhance its platform and expand its offerings. The current phase focuses on the formation of the founding team, smart contract development, community formation, marketing drives, alpha testing, and BITBOT token presale round.
The next steps include the $BITBOT token launch, listings on decentralized exchanges (DEXes), partnerships with top influencers, and the official launch of the Telegram bot.
Future plans for Bitbot include developing a native mobile app, enabling cross-chain support, enhancing community features, and boosting liquidity.
In a nutshell, Bitbot aims to offer a comprehensive trading experience, allowing users to trade directly from Telegram while maintaining full control of their assets. This non-custodial model ensures users own their keys and crypto, providing a high level of security.
The $BITBOT token offers several perks, including earning 50% of bot trading fees and token taxes. It also provides access to private pre-sales and exclusive token deals.
Conclusion
The debut of Bitcoin and Ethereum ETPs on the London Stock Exchange will represent a major milestone in the institutionalization of cryptocurrency investments in the UK.
For Bitbot, this development provides a significant boost as it positions itself as a leading player in the AI and Telegram bot trading space.
With its innovative features, strategic roadmap, and strong community focus, Bitbot is well-placed to capitalize on the growing acceptance of cryptocurrencies and the increasing demand for sophisticated trading tools. For investors advantage, they can invest in the project by purchasing the BITBOT token in the current presale stage for $0.0189 per token before the price rises to $0.02 in the next presale stage.
The post Major boost for Bitbot as Bitcoin and Ethereum ETPs debut on London Stock Exchange appeared first on CoinJournal.
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