European Union Prepares for Major Move Beyond Bitcoin ETF (BTC): A Game-Changer in Crypto World

  • The European Securities and Markets Authority (ESMA) has sought opinions from industry leaders and experts on whether cryptocurrencies should be included in investment products.
  • This move could potentially provide cryptocurrencies with access to a larger market than spot Bitcoin ETFs.
  • Experts believe that if ESMA is convinced to include cryptocurrencies in investment products, it could be the final step in popularizing cryptocurrencies in Europe.

ESMA seeks expert opinion on including cryptocurrencies in investment products, potentially opening up a larger market for cryptocurrencies and paving the way for their widespread adoption in Europe.

ESMA Considers Including Cryptocurrencies in Investment Products

The European Securities and Markets Authority (ESMA) has sought opinions from industry leaders and experts on whether cryptocurrencies should be included in investment products. ESMA is specifically investigating whether cryptocurrencies should be included in “Collective Investment in Transferable Securities” or UCITS.

Potential Impact on the Crypto Market

Experts evaluating this move have pointed out that it could potentially provide cryptocurrencies with access to a larger market than spot Bitcoin ETFs. They argue that this move opens the door to broader access to cryptocurrencies through UCITS, a market worth 12 trillion Euros. Financial regulation expert, Sean Tuffy, stated, “If ESMA is convinced to include cryptocurrencies in investment products, it could be the final step in popularizing cryptocurrencies in Europe. This move could lead to more people turning to cryptocurrencies and everything changes.”

Comparison with Other Markets

Tuffy also drew attention to the fact that regulators in the US and Hong Kong have approved spot Bitcoin ETFs this year, leading to many new investors entering the cryptocurrency sector. Experts finally added that the impact of ESMA including cryptocurrencies in UCITS could be more significant than US spot ETFs.

Conclusion

This potential move by ESMA could be a significant step towards the mainstream adoption of cryptocurrencies in Europe. By including cryptocurrencies in investment products, a larger market could be opened up, attracting more investors and potentially leading to a more widespread use of cryptocurrencies.

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