More than $ 100 million invested in the European version of the ETP for bitcoin
The amount of assets managed by ETP for bitcoin exceeded $ 100 million
Cryptocurrency ETPs Remain Popular in Europe
Institutional investors pour money into crypto assets
International consortium of news organizations developing transparency standards.
Four months after listing on Deutsche Börse, the amount of assets invested in BTCE exceeded $ 100 million
Bitcoin is currently growing rapidly, with annual returns already approaching 120%. Institutional interest in the largest cryptocurrency by market capitalization is also increasing, pushing up the estimated value of investment products pegged to the digital coin..
ETP for bitcoin overstepped the milestone of $ 100 million
According to ETF Stream, the assets under management of the Bitcoin ETP have exceeded the $ 100 million mark. The tool was launched by the ETC Group in June this year. ETC Group CEO Bradley Duke believes this achievement underlines the growing interest and confidence of investors in crypto exchange products..
While the US Securities and Exchange Commission (SEC) ponders whether it is worth giving the green light to Bitcoin exchange-traded funds (ETFs), ETPs are already in full swing in Europe. Major stock exchanges in Austria, Germany and Switzerland currently list many ETPs on bitcoin.
Indeed, many similar ETPs are available on multiple exchanges in different countries. The structure of this instrument allows easy registration in regulated markets for retail and institutional buyers.
European regulators seem to welcome cryptocurrency ETPs, but in the UK, the situation is different. Earlier, the editorial staff of BeInCrypto reported that British regulators banned the sale of cryptocurrency derivatives to retail investors.
Institutional money flows into bitcoins
Institutional investors are increasingly interested in Bitcoin and cryptocurrencies in general. The growth of investments in BTCE confirms this.
The volume of assets managed by Grayscale Investments has already exceeded $ 9 billion. A significant share of the funds – $ 7.6 billion – comes from Bitcoin Trust. Moreover, public companies such as MicroStrategy and Square also openly buy bitcoins and hold them as reserve assets..
Some argue that big players hold the same beliefs as stalwart BTC advocates: Bitcoin is a store of value and a shield against uncertainties in the traditional market..
The Grayscale study published in October showed that 55% of American investors are interested in Bitcoin. One of the largest US banks, JP Morgan, says that if smart money begins to flow from the gold market to Bitcoin, its price will increase tenfold..
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