The London Stock Exchange will roll out a market for bitcoin (BTC) and ether (ETH) exchange-traded notes (ETN) on May 28, it said on Monday. The stock exchange will accept applications for trading crypto ETNs starting on April 8. The market will be subject to the approval of the U.K. regulator, the Financial Conduct Authority, the notice said. ETNs are similar to exchange-traded funds (ETFs) in that they are designed to mirror investments tracked by an index or benchmark. They differ because an ETN functions more like a bond. They are unsecured debt notes. The FCA said earlier in March that it would not turn down requests from recognized investment exchanges to create a listed market segment for ETNs. The products will be available to professional investors only.
The Nasdaq-listed spot bitcoin (BTC) ETFs registered inflows totaling $15.4 million on Monday, ending a five-day run of outflows, according to provisional data published by investment firm Farside. Fidelity’s FBTC led the inflows, collecting $261.8 million, followed by BlackRock’s IBIT, which amassed $35.5 million. Other funds like BITB, BTCO, EZBC, and BRRR received between $11 million and $20 million each. Meanwhile, Grayscale’s ETF (GBTC) continued to bleed money, losing just over $350 million. Last week, the ETFs saw a cumulative outflow of $887.6 million, as a result of withdrawals from GBTC.
The U.S. Securities and Exchange Commission (SEC) has asked a New York judge to impose a nearly $2 billion fine on Ripple Labs, according to court filings. On Monday, Stuart Alderoty, Ripple Labs’ chief legal officer, posted on social media that the SEC was asking for such a fine and that redacted versions of the court documents would be made public by March 26. The SEC’s proposal asks the court to order Ripple Labs to pay $876 million in disgorgement, $198 million in prejudgment interest, and $876 million civil penalty, amounting to a total of $1.95 billion.
This news is republished from another source. You can check the original article here