Another major financial center is opening up to crypto. The London Stock Exchange plans to launch as early as April BTC- and ETH-based products to be allowed in the United Kingdom.

Retrieved from Monday, the London Stock Exchange announced (LSE) indicated that it will begin accepting applications for the admission of exchange-traded Bitcoin and Ether notes in the second quarter of this year. This is a clear step forward for crypto adoption in the UK.

The announcement comes at a time when Bitcoin above $71,000 for first time being traded. The BTC price has risen nearly 70 percent since the beginning of the year, largely due to massive inflows into U.S. Bitcoin ETFs.

The British Financial Conduct Authority (FCA) had earlier declared that it would not oppose proposals by Recognized Investment Exchanges (RIEs) to create an exchange-traded market segment for crypto-based exchange-traded notes (ETNs).

Yet the regulator according to Bloomberg still believes that crypto ETNs and derivatives are "unsuitable for retail investors because of the damage they can cause."

Unlike exchange-traded index funds (ETFs), ETNs are debt securities that offer an investment in the underlying asset. Unlike crypto ETFs, there is also issuer risk.

Still, the news can be seen as a positive sign because ETNs can now give institutional investors indirect access to the two major cryptocurrencies on the London Stock Exchange.

The LSE also seeks to ensure security, as ETNs must not be leveraged and must be backed by Bitcoin or Ether. In addition, at least 90 percent of crypto assets must be held in a cold wallet or similar safe conditions.

Meanwhile Bitcoin ETFs break records. The cumulative trading volume of U.S. spot ETFs exceeded $100 billion for the first time on Friday.