The London Stock Exchange has announced the opening of its application window for Bitcoin Crypto Exchange-Traded Notes (ETNs) on April 8th, 2024. 

This move comes after a previous announcement on March 11th, where the Exchange expressed its plans to permit the trading of Crypto ETNs within the second quarter of 2024.

The announcement clarified that launching the Crypto ETNs market on May 28th, 2024, aims to ensure a significant number of issuers are ready to participate from the start. 

The chosen date was deliberately selected to allow issuers enough time to meet the criteria detailed in the Crypto ETN factsheet. 

Additionally, it provides those planning to list securities on the opening day sufficient time to prepare the required documentation for establishing a Crypto ETN program, which includes obtaining FCA approval for a base prospectus.

Issuers aiming for a Main Market listing on May 28th are required to forward the requisite data to the Exchange by April 15th. 

This includes insights on how the issuer and the ETN intends to satisfy the Crypto ETN factsheet criteria, along with a preliminary version of the base prospectus featuring pertinent disclosures.

If issuers do not fulfill the outlined criteria, submit their applications after April 15th, or whose base prospectus is not approved by the FCA by noon on May 22nd, 2024, they will be deemed ineligible for participation on the first trading day.

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