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Similar to exchange-traded funds , ETNs offer exposure to a basket of assets but have a different structure. With ETFs, investors partially own the basket of stocks or other holdings included in the product. ETNs function more like an unsecured debt note issued by a bank. The bank uses the proceeds to invest in assets that track a specific index. The value of the ETN reflects the performance of those assets, but the underlying assets are not held by the issuer.
Earlier this month, the FCA said it would not turn down requests from Recognized Investment Exchanges to create a listed market segment for ETNs. These efforts come as the U.K. government is looking to make the country more crypto-friendly as part of their efforts to transform Britain into a crypto hub.
The LSE now appears to be turning to digital assets, which are seeing increasing interest from institutional investors, in an attempt to revive their status and be at the forefront of the next investment wave. If the exchange can create a regulated and secure environment for digital assets, this could potentially attract new investments and help the UK maintain its edge in the digital asset economy.
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