
London Stock Exchange welcomes Wahed Celebrating the launch of Wahed FTSE USA Shariah ETP
"London Stock Exchange welcomes fintech company Wahed’s first Exchange Traded Product (“ETP”) launched on Friday 11 November."
The ETP tracks the US-listed Wahed FTSE USA Shariah ETF (Ticker: HLAL) and began trading Friday on the London Stock Exchange. The product looks to provide investors exposure to a shariah-compliant US equity ETF.
Launched in collaboration with Leverage Shares, the ETP effectively aims to track the Wahed FTSE USA Shariah ETF, which was launched on the NASDAQ in July 2019 and outperformed the conventional S&P 500 index.
Until now, exposure to HLAL was not viable for UK and EU-based investors. The ETP will be passported across Europe and offered in USD, GBx and EUR. This ETP aims to provide investors in these regions with exposure to that fund. The note’s expense ratio is 0.05%, in addition to the TER of the underlying HLAL shares in the basket.