It had been several months since the requests for the exchange-traded funds had been submitted at the US Securities and Exchange Commission (SEC). Finally, the US SEC proceeded with the approval, and the first-ever cryptocurrency exchange-traded fund (ETF) was launched in the country.
Ever since the cryptocurrency sector came into being, the United States’ regulators had proven to be the strictest among global regulators. However, the country has finally realized the importance of cryptocurrencies and is ready to be on the same page as cryptocurrencies one way or another.
This is the reason why the US SEC has proceeded with the approval of the cryptocurrency ETF in the country. Now, the firms interested to launch the crypto-ETFs will be able to launch them for their clients. This way, more cryptocurrency exposure will be brought towards the mainstream investors in the United States.
The recent move made by the United States has given confidence to other major countries from around the world to do the same. Several major countries with significantly higher economies are aiming to follow the United States in its footsteps.
France is now doing the same by letting firms in the country launch exchange-traded funds for their clients. It has been reported that the regulatory authorities in France are also in the process of approving an exchange-traded fund for Bitcoin in the country.
The reports reveal that Melanion Capital from France is planning to launch its exchange-traded fund for Bitcoin for the clients. Melanion Capital is an alternative investment firm that is based in France.
Jad Comair, the CEO at Melanion Capital was the one to break the news to the entire investment community in France. Comair made the announcement surrounding their firm going for the launch of a Bitcoin ETF on coming Friday, October 29, 2021. Comair made the announcement in regards to the approval and launch of their Bitcoin ETF on Monday, October 18, 2021.
Comair has confirmed that the name of the particular Bitcoin ETF they are going to launch on Friday is “Melanion BTC Equities Universe UCITS ETF. The particular ETF will reportedly be launched through Euronext Paris, which is the primary stock exchange in France. Comair has also confirmed that the ETF will be launched on Friday, October 29, 2021, at 7 am (UTC).
Comair revealed that the ticker symbol has also been decided and once the ETF is launched, it will be traded with the symbol “BTC FP”. Through the newly launched ETF, the investors will be able to gain exposure to Bitcoin. As always, the exposure will be indirect and regulated and will be on the same page as regulators.
