A Bitcoin ETF offered in France
As explained in a press release, the “Melanion BTC Equities Universe UCITS ETF” is offered by the company Melanion Capital, which is located in France. It is made up of 30 stocks, in order to achieve a 90% correlation with the price of BTC, according to the company. It will be offered on the Euronext stock exchange in Paris.
Among the actions represented, there are heavyweights in the sector: we can cite Galaxy Digital, Marathon Patent, Argo Blockchain or even HIVE Blockchain. The fund complies with European UCITS directives, which offer a high level of protection for investors. Until then, they were rather an obstacle to Bitcoin ETFs in France or more broadly in Europe, as confirmed by Jad Comair, CEO of Melanion Capital:
“Most avenues of the traditional financial system end when it comes to accessing Bitcoin. This ETF has been a real challenge, because of the sensitivities and policies surrounding Bitcoin and Bitcoin investing. “
👉 Also read – Goldman Sachs plans to create an ETF with exposure to Bitcoin
France opens up to cryptocurrencies
As stated by Melanion, this is therefore a key step for France – and the AMF – which may have been particularly cautious with the cryptocurrency sector:
“This is an important step for France, which once again proves its open-mindedness on cutting-edge issues and its desire to be a pioneer in Europe but also in the world. “
According to the company, offering an ETF of this type also reassures investors who are interested in the field of cryptocurrencies. They often fear hacks, loss or theft of tokens, risks that do not exist with such an investment product. This step forward is therefore notable, and it should be followed by others in France.
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About the author: Marine Debelloir
Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.