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Italy's Borsa Italiana Welcomes Melanion Capital's BTC ETF

Italy's Borsa Italiana Welcomes Melanion Capital's BTC ETF

According to Melanion Capital's Sabbagh, the ETF would be “accessible to as many people as possible.”

On June 7, Melanion Capital’s Bitcoin-thematic ETF was listed on the Italian stock exchange dubbed Borsa Italiana, introducing Bitcoin (BTC) to various institutions, as well as retirement plans located in Italy.

Managing Director of Melanion Capital Cyril Sabbagh implied that “the Melanion BTC Equities Universe UCITS ETF is an equity ETF around stocks in the crypto ecosystem.” He continued and stated that the exchange-traded fund (ETF) would eventually be available to a large proportion of people.

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On top of that, Borsa Italiana is widely known as a stock exchange that doesn’t list any spot exchange-traded funds. Thus, Sabbagh felt triumphant over the fact that it accepted a Bitcoin-thematic ETF.

In fact, Melanion Capital selected Italy after a Bitcoin-themed ETF was successfully launched on the pan-European bourse that offers various trading and post-trade services dubbed Euronext Paris last year. Sabbagh expanded:

“In Europe, spot ETFs (exchange-traded funds) are ETNs (exchange-traded notes) or ETCs (exchange-traded certificates) and, as such, carry counterparty risk and are not UCITS (the highest regulatory standard for a fund in Europe).”

The Bitcoin ETF also provides investors the ability to include crypto allocation such as Bitcoin (BTC) in their traditional retirement plans. “Indeed, investors will be able to integrate our ETF into their securities accounts, life insurance policies and even their retirement savings plans (this is already the case in France),” Sabbagh mentioned.

On top of that, the Head of Derivatives and Commodities at Borsa Italiana Nicolas Bertrand stated that traders in Italy have been keen on trading various cryptocurrencies. He also highlighted the fact that Italy held its ground in the top 10 list internationally in regard to Bitcoin activity volume. He concluded:

“From my position of adviser to a number of crypto exposed businesses and my direct contact with investors, I can confirm that there is a significant level of interest and that a number of firms are getting ready to embrace digital assets.”

In other news, on June 6, 3iQ Digital Asset Management (3iQ) fired up two new crypto-related exchange-traded funds (ETFs) on a global exchange dubbed the Cboe Australia.

Earlier this year, crypto asset management business Grayscale announced that it would introduce a new ETF related to crypto dubbed the Grayscale Future of Finance UCITS ETF.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.



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