London-based firm ‘Aurora’ hopes to begin the first major Initial Coin Offering (ICO) on British soil by the end of this year.
London-based financial services firm CME Group is set to launch its first Bitcoin-powered exchange traded fund (ETF) in the UK after the British government granted it a deadline extension to set up the product. The company’s Bitcoin-Ethereum (an ETP) is scheduled to debut on the CME system in the fourth quarter of this year. It will be the third ETP product on the CME system, which offers a small number of new ETPs each quarter.
One of the most popular ways to get exposure to the digital currency bitcoin is through an exchange-traded fund (ETF). An ETF is a fund that tracks an underlying index and trades like a stock. The digital currency bitcoin is not an ETF; it does not follow a standard index like the Dow Jones or S&P 500.. Read more about when to buy bitcoin 2021 and let us know what you think.Crypto-currency investment manager ETC Group is expanding its range of bitcoin (BTC)-based exchange products in the UK, using Swiss market rules to circumvent stricter UK regulations. ETC Group’s Physical Bitcoin ETP, which trades under the symbol BTCE, will launch on the 7th. The company announced Tuesday that it would begin trading on the Aquis market in London and Paris in June. Once launched, BTCE will be the first cryptocurrency ETP to trade in the UK. Bradley Duke, CEO of ETC Group, said the product is already being used by investors as an effective hedge against inflation. He stated: ETC Group offers exposure to bitcoin, ether and litecoin through its 100% physically backed cryptocurrency ETPs. The launch of our flagship product, bitcoin, on the Aquis Exchange was a logical step as institutional demand for exposure to cryptocurrencies grows worldwide. Alasdair Haynes, CEO of Aquis Exchange, described cryptocurrencies as a bona fide asset class that offers investors more opportunities to build a balanced portfolio. Aquis has always been innovative and responsive to customer demand for these assets, allowing traders to access them in a liquid and regulated environment, he added. Since launching its Bitcoin ETP in Germany in June 2020, ETC Group has traded $5.4 billion in cryptocurrencies, reflecting the continued growth of investment in digital assets among institutions. The rise of so-called smart investors has put bitcoin and other digital currencies in the spotlight. However, their participation in the market has added another layer of uncertainty to bitcoin’s price targets after the decline. As Cointelegraph recently reported, most recent BTC sales have come from new entrants. On the other side of the Atlantic, fund issuers are lining up to convince the SEC to finally approve an exchange-traded bitcoin fund. Six leading funds are currently under investigation by the US Securities and Exchange Commission; the first decision is expected later this month.Today, the British government published a consultation document on the regulation of Initial Coin Offerings (ICO). The document is the first step for the government in its broader consultation on the regulation of cryptocurrency, and it is likely the first of many steps that will be taken. In the interim, the government’s consultation will create a legal and regulatory framework for ICOs.. Read more about who runs bitcoin and let us know what you think.
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