European Bitcoin ETF (BTC) Approved by French Melanion Capital »Crypto Insiders

All over the world, major investment funds and asset managers are busy Bitcoin (BTC) Exchange Traded Funds (ETF) to get off the ground. In the United States, a large number of these companies have submitted applications to The Securities and Exchange Commission (SEC), But so far the Securities and Exchange Commission Nothing has been approved yet.

Elsewhere in the world, launching ETFs is much smoother. So it became Earlier this year Canada’s first Bitcoin ETF has already been approved and European financial regulators seem less hesitant.

Melanion Capital has received approval

Milanion Capital, headquartered in Paris, recently launched I received a message From the French authorities, the required Bitcoin ETF has been approved. The company is now authorized to offer an ETF in the European Union that provides indirect exposure to Bitcoin.

French regulators have decided that the ETF complies with the requirements of the European Union, known as Ucits, so Melanion Capital’s ETF will be available in all 27 member states. This makes it one of the first funds focused on digital assets to receive approval from Ucits.

Indirect exposure to Bitcoin

Mellanion Capital’s ETFs will be based on Bitcoin-related stocks and not the Bitcoin itself. So it is not a Bitcoin ETF in the literal sense of the word. The ETF will not invest in the largest cryptocurrency itself, but will invest in Bitcoin-related products.

It will include shares of about 30 companies in the fund. Among the crypto mining companies Argo and Riot, but also the investment company Galaxy Digital It will be included in the ETF. Since these companies are heavily entangled with bitcoin, this ETF is a way to indirectly gain exposure to bitcoin.

For many investors, actually investing in bitcoin is still relatively intimidating. In this way, the sharp edge of these questionable investors can be removed. In any case; Good news for the cryptocurrency world in Europe and the world.