The Netherlands has welcomed a brand new Fairness Change Traded (ETF) fund providing traders entry to a basket of Bitcoin (BTC)-related firm shares.
French funding agency Melanion Capital's Bitcoin Equities ETF started buying and selling on the Euronext Amsterdam Inventory Change on June 22, introducing an equity-based method to investing within the Bitcoin ecosystem.
The ETF is designed to trace the Melanion Bitcoin Publicity Index, a custom-made basket of European and American shares that's intently tied to BTC's market value.
The ETF complies with the European Fee's obligations for collective funding in transferable securities (UCITS) regulatory framework for the administration and buying and selling of funding funds.
UCITS funds enable funding corporations to register and promote buying and selling merchandise throughout the European Union by complying with regulatory and investor safety necessities.
Jad Comair, CEO of Melanion Capital, said the company's expansion to the Euronext Amsterdam exchange offers Dutch investors a "regulated and transparent solution" to gain access to the Bitcoin ecosystem.
"The Dutch market has shown great interest in digital assets and we are pleased to offer them a way to access this exciting investment opportunity within a regulated framework."
Melanion's Bitcoin Exposure Index includes stocks of companies with significant investments in Bitcoin holdings, cryptocurrency exchanges, and mining operations.
The index includes companies like MicroStrategy, which, led by Michael Saylor, has acquired over 140,000 BTC worth over $12.6 billion through April 2023. Coinbase and Robinhood are two notable exchange platforms, while mining companies like Riot, Marathon Digital, and Hut8 also make up Melanion's stock index.
The company notes that the ETF aims to remain correlated with Bitcoin's market performance, although no minimum correlation threshold has been set. Melanion's Bitcoin Equities ETF is also listed on the Euronext Paris and Euronext Milan exchanges.
Bitcoin ETFs made headlines in June 2023 when the world's largest money manager, BlackRock, filed an application with the US Securities and Exchange Commission for a Bitcoin spot ETF.
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