The London Stock Exchange announced on Monday that it will start accepting applications for the admission of bitcoin and ether crypto exchange-traded notes (ETNs) in the second quarter of this year.

The LSE said in the statement that it will take applications following a factsheet it previously published. “The exact launch date will be confirmed in due course,” the LSE said.

“In order to mitigate the risk of delay in the admission timetable, the Exchange encourages early engagement from prospective issuers interested in admitting Crypto ETNs to trading on the Exchange,” the LSE added in the admission factsheet. The crypto ETNs would only be available for professional investors, according to the factsheet.

This comes as UK’s Financial Conduct Authority (FCA) stated that it will not oppose proposals from Recognized Investment Exchanges (RIEs) to create a listed market segment for cryptocurrency-backed exchange-traded notes (ETNs).

ETNs are debt securities that provide exposure to an underlying asset, according to the document. Crypto ETNs allow investors to trade securities that track crypto assets on the exchange during London trading hours. 

The LSE’s move comes after the U.S. spot bitcoin exchange-traded funds (ETFs) have gained popularity since its launch in January. On Friday, the cumulative trading volume for U.S. spot bitcoin ETFs surpassed $100 billion to reach $106.59 billion, according to Yahoo Finance data compiled by The Block.