Bitcoin Equities ETF launched by Melanion Capital on Euronext

Karthik Subramanian

The gates for Bitcoin ETFs seem to have finally opened around the world as we are seeing the arrival of many Bitcoin-based ETFs in many exchanges with even the US finally deciding to go ahead with a few as of the last couple of weeks.

Melanion Capital, the Paris-based alternative investment management company, has also announced the launch of its BTC Equities Universe UCITS ETF which has been listed on Euronext Paris on October 22nd and which has been gaining some decent traction. Over the past couple of weeks, there has been a slew of such announcements from various fund management companies and as far as the US is concerned, most of these ETFs have been waiting for the green signal from the SEC which finally gave the go-ahead to them a couple of weeks back. The ETFs all around the world have been launched with much fanfare but most of them seem to be based on Bitcoin which might backfire on to the companies as the investments are likely to be skewed to that one single crypto though there are thousands of others in the market.

“Being able to invest in the Bitcoin transition story in a harmonized framework for investment funds that can be sold to retail investors throughout the EU, is the next natural step in this becoming a more mainstream asset class and thematic, and we are naturally delighted to be the first firm to make this dream a reality for the European investment community,” adds Jad Comair, CEO of Melanion Capital.

Though Bitcoin dominates the crypto story, other alternate cryptos are gaining prominence over the last year or so and it remains to be seen how soon the investment companies realize the need to diversify and launch ETFs which are focused on the alternate cryptos like Ethereum as well. This would help in the maturing of the market by diverting some of the funds to alternative cryptos which would improve the balance and reduce the bitcoin dominance. This would also help to bring other cryptos to the knowledge of mainstream users which would further help to boost the crypto ecosystem in the long run.

The new ETF launched by Melanion Capital would focus on investing in companies that have a bitcoin exposure with the weightages also being assigned based on their exposure with the maximum exposure being capped at 10%.

Read this next

Digital Assets

Revolut receives FCA’s go-ahead to launch crypto trading

British fintech and banking firm Revolut has received a regulatory go-ahead to launch its cryptocurrency services in the UK.

Digital Assets

GBTC share is trading at 36% below bitcoin spot price

Grayscale Bitcoin Trust share has widened its discount relative to the underlying cryptocurrency held in the fund, the highest margin ever since its debut in 2013. Digital Currency Group’s flagship GBTC shares traded at a discount of 35.8% to net asset value (NAV) today.

Digital Assets

Crypto lender Nexo investigated by 8 US state regulators

State securities regulators in New York, California, Kentucky, Maryland, Oklahoma, South Carolina, Washington and Vermont are investigating crypto lender Nexo for allegedly failing to register its Earn Interest Product.

Metaverse Gaming NFT

Astar Network’s ad features 329 top brands to support Web3 in Japan

Blockchain innovation hub Astar Network is making strides in promoting the Web3 adoption worldwide. In yet another milestone, the smart contracts platform has run a national newspaper ad in Japan that set a new global record with participation from 329 blue-chip firms.

Digital Assets

Pyth Network welcomes onchain data from crypto market maker Auros

“By sharing our high-frequency trading data with a truly onchain decentralized network, we aim to foster innovation that will lead to better financial solutions for all participants.”

Digital Assets

Tokeny integrates Ownera to boost liquidity of tokenized assets

“The adoption of FinP2P will result in higher liquidity and better access to capital and assets by providing regulated firms with one secure point of connection to multiple digital asset networks across the globe.”

Digital Assets

BingX launches subsidy vouchers to cover user losses in copy trading

“With the introduction of copy trade subsidy vouchers, new users can easily try out trading strategies without incurring losses.”

Digital Assets

Talos expands sales team: Frank van Zegveld, Matt Houston, Hillary Conley

“The extensive leadership and industry expertise of these new hires will enable us to build long-lasting relationships as we continue to build out our global presence in EMEA and beyond.”

Executive Moves

FX and CFD broker Emporium Capital hires industry veteran Robert Woolfe as COO

His past experience within the FX and CFD industry includes top roles at Capital Index, London Capital Group, GKFX, ETX Capital, and IG.  “I’m delighted to be part of the Emporium Capital team and spearheading the brokerages global expansion plans”, he said about the appointment.

<