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The London Stock Exchange (LSE) has disclosed its readiness to accept applications for listing cryptocurrency products, including Bitcoin and Ethereum Exchange Traded Note (ETN) products, paving the way for trading to begin as early as the second quarter of this year.
BREAKING: Breaking: LSE Confirms Readiness To Accept Bitcoin ETN Listing Applications#Bitcoin #BTC $BTC
— Crypto Chiefs News (@CryptoChiefNews) March 25, 2024
This move follows the United States Securities and Exchange Commission’s (SEC) approval of 11 offerings for trading in January, prompting regulators in various countries, including the United Kingdom, to explore similar products. Aligning with this trend, the LSE plans to open applications for Bitcoin ETN listing by April 8, 2024, with the earliest listing date proposed for May 28, 2024, after thorough review and regulatory consideration by the Financial Conduct Authority (FCA).
The London Stock Exchange’s readiness to accept Bitcoin ETN listing applications signals growing institutional acceptance and adoption of cryptocurrencies, particularly Bitcoin, as an asset class. This move opens up access to a broader pool of investors and fosters positive sentiment in the cryptocurrency market.
With increased accessibility and recognition, demand for Bitcoin may surge, potentially leading to a bullish trend in its price trajectory. The announcement reflects a broader trend of regulatory acceptance and legitimization of cryptocurrencies, which could further bolster investor confidence and drive Bitcoin’s price upwards.
Key Levels To Monitor For BTC
Bitcoin (BTC) has staged a notable recovery following a recent correction in the market. On the 16th of March, the price experienced a dip below the Moving Average within the Bollinger Bands, largely attributed to the market’s retracement phase. However, a significant bullish candle on the 25th has propelled the price above the Moving Average, following a test of a confluence of supporting trendlines on the daily chart.
This rally indicates a strong momentum, with the price aiming to surpass the previous swing high of $73,680. This resurgence reflects renewed investor confidence and suggests a potential continuation of the upward trend in Bitcoin’s price trajectory.
BTCUSD Key Levels
Demand Levels: $59,310.0, $50,520.0, $38,510.0
Supply Levels: $80,000.0, $85,000.0, $90,000.0
Bitcoin Metrics:
Total Market Capitalization: $2.55 trillion
BTC Market Cap: $1.3 trillion
BTC Volume (24h): $43 billion
Rank: 1
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