New Blockchain ETF to be Introduced on the London Stock Exchange
BY Luke Flowers – Crypto Specialist
A brand new blockchain Exchange Traded Fund (ETF) could be introduced on the London Stock Exchange (LSE) as detailed through CNN. The ETF won’t track the value of the assets themselves, but the companies behind the blockchain industry. The ETF is reportedly to be introduced by a partnership between American firm Invesco and British digital asset investment company, Elwood.
The ETF will initially feature 48 companies all with affiliation to the blockchain industry including the likes of Overstock, Square, Verizon and even Samsung. The fund is officially to be called the ‘Invesco Elwood Global Blockchain UCITS ETF’, providing investors with wide exposure to companies that are proactive in the crypto space without having to buy and sell cryptocurrency assets.
Though the fund is launching in the UK, 39% of the companies making the listing come from the US. Companies range from digital asset exchange services like Square for selling Bitcoin, to companies like TSMC that manufactures chips for blockchain technology. The ETF even considers a company that operates in the physical mining industry, Rio Tinto and suggests the wide-ranging impact blockchain technology can have on other industries.
An ETF such as this is not the same as the conventional ETF many investors are hoping for as it’s not dictated by an underlying cryptocurrency asset. Investors will not be able to use the ETF to indicate the value of the cryptocurrency markets and so cannot use it to determine the best time to sell crypto. Never the less this ETF that focuses on the major organisation involved in blockchain technology is strong endorsement and could be used to suggest the overall health of the industry.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards