Bitwise Asset Management today announced it will admit four crypto Exchange Traded Products (ETPs) to the Retail Segment of the London Stock Exchange (LSE) on 21 October, and will lower the Total Expense Ratio (TER) of the Bitwise Core Bitcoin ETP (BTC1) to 0.05% (from 0.20%), effective for six months and then continuing until further notice.
A turning point for UK retail access
These listings represent the first time UK retail investors can gain exposure to Bitcoin and Ethereum through exchange-traded products listed on a UK Recognised Investment Exchange (RIE), following the FCA’s decision to lift its retail access restrictions. Under the FCA’s guidance, UK retail investors can currently access crypto ETPs referencing Bitcoin and Ethereum only, and only when traded on FCA-recognised exchanges (e.g., the LSE).
From a tax perspective—and depending on platform availability—these ETPs may be eligible for ISAs, SIPPs, and other UK investment accounts. (Tax treatment depends on individual circumstances and may change.)
Bitwise’s LSE offer & fees
The launch of the four products gives retail investors access to the four Bitcoin and Ethereum ETPs which Bitwise listed on the LSE in April: Bitwise Core Bitcoin ETP (BTC1), Bitwise Physical Bitcoin ETP (BTCE), Bitwise Ethereum Staking ETP (ET32), and Bitwise Physical Ethereum ETP (BETH/BETI).
In parallel, fees on the Core Bitcoin ETP (BTC1) are lowered to 0.05% (from 0.20%) for six months, then “until further notice”—a clear pricing signal that strengthens the appeal of simple, cost-efficient Bitcoin exposure within an institutional-grade range.
Structure and controls: key points
- Physically backed & fully collateralized: underlying cryptoassets are held in institutional custody.
- An independent trustee holds a security interest over the assets to the benefit of investors; in the event of issuer insolvency, these assets remain segregated from the issuer’s balance sheet.
- Transparency: an independent administrator publishes weekly reserve reports matching units outstanding.
- Regulated access: trading is done via regulated brokers/platforms with standard suitability checks.
While the ETPs are listed on regulated exchanges, the underlying cryptoassets are not themselves regulated by the FCA, and investors are not protected by the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service (FOS).
Why this matters
For UK financial advisors and wealth managers, these listings simplify operational integration of Bitcoin/Ethereum (familiar trading processes, simpler reconciliation, institutional custody). For retail investors, the experience becomes more comparable to other exchange-traded exposures, while acknowledging the specific risks of digital assets.
“We are excited to make Bitwise Bitcoin and Ethereum ETPs available to a much wider group of investors in Europe’s largest investment market through this launch on the London Stock Exchange. At Bitwise, we see it as our role to accompany investors on their journey in this dynamic asset class.”
- Bradley Duke, Managing Director, Head of Europe, Bitwise
About Bitwise
Bitwise is a crypto specialist asset manager operating in the U.S. and Europe, with over $15 billion in client assets. Since 2017, the firm has offered a comprehensive suite of solutions—ETPs, separately managed accounts, private funds, and hedge-fund strategies—serving thousands of advisors, family offices, and institutional investors. Bitwise has a growing European presence (London, Frankfurt) alongside its U.S. base (San Francisco, New York).
Risk disclosure
Crypto-backed ETPs involve significant risks, including price volatility, variable liquidity, custody/cybersecurity risks, regulatory changes, and market risk. Capital is at risk, and losses up to 100% are possible. Past performance is not indicative of future results. Before investing, please review the Base Prospectus and Final Terms.
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