Kraken UK: Bitcoin ETFs Should Be Launched in the UK
According to Bivu Das, managing director of Kraken UK, the UK should allow for the trading of spot Bitcoin ETFs. Das made this statement at the Digital Asset Summit in London.
He believes that since the Financial Conduct Authority (FCA) has banned the sale of cryptocurrency derivatives and exchange-traded notes (ETNs) to retail traders in 2021, the risks for investors have been significantly minimized.
Das also mentioned that the lack of access to spot Bitcoin ETFs in the UK pushes investors towards unregulated platforms.
According to him, this type of ETFs is an interesting product with potential for high returns, and its availability will help the UK achieve its goal of becoming a cryptocurrency hub. Daniel Seifert, CEO of Coinbase UK, agrees with this statement, stating that more options for customers are always beneficial.
In Q2 of 2024, the London Stock Exchange will start accepting applications for listing ETN’s based on Bitcoin and Ethereum, but it will only be available to institutional investors, following the FCA’s previous decision.
