Bitcoin ETFs continue to gain traction all around the world.
A novel equity exchange-traded fund (ETF), presenting investors with the opportunity to invest in an assortment of businesses closely related to Bitcoin (BTC), has recently made its debut in the Netherlands.
Melanion Capital, a French investment enterprise, initiated the trading of its Bitcoin Equities ETF on the Euronext Amsterdam Stock Exchange on June 22nd, thus introducing a new, equity-centric investment strategy tailored to the Bitcoin landscape.
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The purpose of this ETF is to follow the performance of the Melanion Bitcoin Exposure Index, a specialized assortment of European and American stocks that maintain a strong correlation with BTC’s market value, such as cryptocurrency exchanges and mining operations.
Notable constituents include MicroStrategy, which as of April 2023, has amassed over 140,000 BTC valued at more than $12.6 billion. Crypto exchange platforms like Coinbase and Robinhood are also included, in addition to mining entities such as Riot, Marathon Digital, and Hut8.
The CEO of Melanion Capital, Jad Comair, expressed that the company's introduction to the Euronext Amsterdam exchange supplies Dutch investors with a "regulated and transparent solution" to gain exposure to the Bitcoin ecosystem.
The Dutch market has shown tremendous interest in digital assets, and we are delighted to offer them an avenue to access this exciting investment opportunity within a regulated framework.
Melanion noted that the ETF aims to stay correlated with Bitcoin's market performance, although it did not establish a minimum correlation threshold. The Bitcoin Equities ETF by Melanion is also listed on the Euronext Paris and Euronext Milan stock exchanges.
This ETF adheres to the Undertakings for the Collective Investment in Transferable Securities (UCITS) regulatory structure established by the European Commission. This framework governs the management and trading of mutual funds.
June 2023 has seen Bitcoin ETFs attracting a lot of attention, with the world's largest asset manager BlackRock applying to a Bitcoin spot ETF with the United States Securities and Exchange Commission.
