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First EU-Regulated ETF That Tracks Bitcoin Price to Launch in France

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Wed, 08/04/2021 - 17:39
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Alex Dovbnya
Melanion Capital will launch an exchange-traded fund that closely tracks the price of Bitcoin with a basket of stocks
First EU-Regulated ETF That Tracks Bitcoin Price to Launch in France
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Melanion Capital, a prominent French investment management company, is set to launch an exchange-traded fund that tracks the price of Bitcoin through a basket of equities, according to a Financial Times report.     

Its shares will be trading on the Euronext stock exchange in Paris.

What makes this ETF stand out is its UCITS status, which means that it’s regulated throughout the European Union.

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While strict standards prevent Melanion Capital from offering access to the real thing, there is a 90 percent correlation ratio between its index and the price of Bitcoin.

The fund provides exposure to such companies as Galaxy Digital, Riot Blockchain, Voyager Digital and others.

As reported by U.Today, cryptocurrency asset management firm Bitwise launched a similar ETF that tracks the stocks of publicly listed crypto companies in the U.S back in May.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.