• UK retail investors will be able to access crypto ETPs referencing Bitcoin and Ethereum on the London Stock Exchange, following the FCA’s decision to lift its retail access restrictions.
• Broad access – two Bitcoin ETPs, one Physical Ethereum ETP, and one Ethereum Staking ETP by Bitwise to be tradable on LSE from 21^st of October.
• Fee reduction: The Total Expense Ratio (TER) for the Bitwise Core Bitcoin ETP (BTC1) has been lowered to 0.05% (from 0.20%), effective for six months and then continuing until further notice.
• Tax-efficient access: Depending on platform availability, these ETPs may be eligible for ISAs, SIPPs, and other UK investment accounts. [Note: The tax treatment depends on your individual circumstances and may be subject to change in the future]

Bitwise announced it will lower the fees for its Bitwise Core Bitcoin ETP (BTC1, ISIN: DE000A4AER62) to 5 basis points (0.05%), as it will admit the product and three other crypto Exchange Traded Products (ETPs) on the Retail Segment of the London Stock Exchange (LSE) on October 21^st.

These listings represent the first time UK retail investors can gain exposure to Bitcoin and Ethereum through exchange-traded products listed on a UK Recognised Investment Exchange (RIE), coinciding with the Financial Conduct Authority’s (FCA) decision to lift its restrictions on retail access to crypto ETPs.

The launch of the four products gives retail investors access to the four Bitcoin and Ethereum ETPs which Bitwise listed on the LSE in April. They are the Bitwise Core Bitcoin ETP (BTC1, ISIN: DE000A4AER62), the Bitwise Physical Bitcoin ETP (BTCE, ISIN: DE000A27Z304), the Bitwise Ethereum Staking ETP (ET32, ISIN: DE000A3G90G9) and the Bitwise Physical Ethereum ETP (ZETH, ISIN: DE000A3GMKD7). Under the FCA’s guidance, UK retail investors can currently access crypto ETPs referencing Bitcoin and Ethereum only, and only when traded on FCA-recognised exchanges (for example, the London Stock Exchange).

Bitwise will reduce the Total Expense Ratio (TER) of BTC1 to 0.05% from 0.20% effective as of today, for six months, and then until further notice, making it the most cost-efficient member of the company’s suite of institutional-grade crypto ETPs, to the benefit of both new and existing investors in this rapidly evolving market.

Bradley Duke, Managing Director, Head of Europe at Bitwise, said: “We are excited to make Bitwise Bitcoin and Ethereum ETPs available to a much wider group of investors in Europe’s largest investment market through this launch on the London Stock Exchange. At Bitwise, we see it as our role to accompany investors on their journey in this dynamic asset class. UK investors can now gain exposure to Bitcoin or Ethereum through products that are fully backed and available via their brokers and tax-advantaged accounts.”

Bitwise crypto ETPs, often referred to as crypto ETCs or crypto ETNs depending on the listing segment of each stock exchange, are physically backed, MiFID II–compliant instruments traded on regulated stock exchanges. They aim provide investors with exchange-traded exposure to digital assets such as Bitcoin and Ethereum. While the ETPs are listed on regulated exchanges, the underlying cryptoassets are not themselves regulated by the FCA, and investors are not protected by the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service (FOS).

Equally important, access is provided via participating regulated brokers and investment platforms, which are required to carry out standard investor appropriateness and suitability checks before trading.

Bitwise’s ETPs are fully collateralised, with the underlying cryptoassets held in institutional custody. An independent trustee holds a security interest over the assets to the benefit of investors. In the event of issuer insolvency, these assets remain segregated from the issuer’s own balance sheet. While traditional unsecured ETNs are debt instruments that carry issuer counterparty risk, Bitwise’s physically backed crypto ETNs hold underlying digital assets in segregated custody, a structure similar in concept to physical gold ETCs. Nonetheless, crypto ETNs involve distinct risks, including digital-asset price volatility, custody complexities, and evolving regulation, which investors should carefully consider

Bitwise also provides transparency on reserves: an independent administrator publishes a weekly balance report of cryptocurrency holdings backing ETP units in circulation. The ETPs also enable financial advisors and wealth managers to offer clients exposure to digital assets within a regulated, exchange-traded format making it easier to integrate crypto into diversified portfolios.

LSE-Listed Bitwise ETPs Trading Information (for USD and GBP trading lines respectively)

Instrument Name	ISIN	LSE Ticker	Trading currency	TER
Bitwise Core Bitcoin ETP	DE000A4AER62	BTC1	USD	0.05%*
Bitwise Core Bitcoin ETP	DE000A4AER62	BTC3	GBP	0.05%*
Bitwise Ethereum Staking ETP	DE000A3G90G9	ET32	USD	0.85%
Bitwise Ethereum Staking ETP	DE000A3G90G9	ET33	GBP	0.85%
Bitwise Physical Ethereum ETP	DE000A3GMKD7	BETH	USD	1.49%
Bitwise Physical Ethereum ETP	DE000A3GMKD7	BETI	GBP	1.49%
Bitwise Physical Bitcoin ETP	DE000A27Z304	BTCE	USD	2.00%
Bitwise Physical Bitcoin ETP	DE000A27Z304	BTCF	GBP	2.00%

* Please refer to the official bondholder notice on the website of the issuer for more information on the fee (TER or “Total Expense Ratio”) of the product.

Source: Bitwise

WisdomTree Bitcoin and Ethereum ETPs^[1] Listed on the LSE, Now Qualifying for ISAs and SIPPs^[2] Following FCA Approval for Retail Access

WisdomTree Bitcoin and Ethereum ETPs are now listed on the Main Market of the LSE, broadening access to crypto for all UK investors

WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) ETPs are now listed on the retail segment of the London Stock Exchange (LSE). Both ETPs are 100% physically backed, and the underlying assets are professionally secured in ‘cold storage’ by two regulated custodians, Coinbase and Swissquote.

This development means retail investors will now be able to access these products through UK-regulated investment platforms and brokers, using standard brokerage accounts and tax wrappers, like ISAs and SIPPs. Crypto ETPs provide a straightforward and familiar route for individuals to gain exposure to cryptocurrencies without having to worry about the complexities of investing in crypto directly.

WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs were first listed on a dedicated “professional only” listing segment of the LSE in May 2024 and were available to professional investors only. From 20 October, the listing of both ETPs on the Main Market of the LSE marks a significant step forward in broadening access for all UK investors to digital assets in the UK.

Alexis Marinof, Head of Europe, WisdomTree, said: “The availability of crypto ETPs on the Main Market of the LSE demonstrates how far the market has evolved, giving investors confidence that they can access digital assets through trusted, regulated channels. Access and transparency are essential to building trust in this asset class, and today’s milestone reinforces that belief.”

In 2019, WisdomTree became the first established ETP issuer to provide European investors with institutional grade physically backed crypto exposure, with the launch of the WisdomTree Physical Bitcoin ETP. WisdomTree manages circa $3bn^[3] across a thoughtfully curated range of 11 physically backed crypto ETPs.

WisdomTree’s European crypto ETPs are available in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Poland, Netherlands, Norway, Spain, Sweden and Switzerland. WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum are also available in the United Kingdom.

Product information

ETP name	MER	Trading currency	Exchange code	ISIN
WisdomTree Physical Bitcoin	0.15%	USD	BTCW	GB00BJYDH287
		GBx	WXBT	GB00BJYDH394
WisdomTree Physical Ethereum	0.35%	USD	ETHW	GB00BJYDH394
		GBx	WETP	GB00BJYDH394

Source: WisdomTree

iShares Bitcoin ETP is now trading on the LSE

Cryptocurrency is gaining traction among investors worldwide. Our 2025 People & Money report projects nearly 700,000 new crypto investors in the UK in the next 12 months. Bitcoin, the leading and most widely used digital asset, remains at the forefront of this trend — and more than two-thirds of adults who only hold crypto say they’re interested in investing in a Bitcoin ETP within the next two years.

Following the FCA lifting the retail ban on crypto ETPs, we’re pleased to announce the listing of IB1T on the London Stock Exchange. IB1T is an exchange-traded product that provides access to bitcoin, with institutional grade security associated with professional asset management.

Source: BlackRock