thenewscrypto.com
24 March 2024 22:46, UTC
Kraken UK Managing Director Bivu Das said that Bitcoin ETFs should “absolutely” be introduced to the UK. Das said that a lot has happened since the UK banned such products in 2021 during an interview at the London Digital Asset Summit.
Das stated:
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“And if anything, some of those concerns that the regulators have around protection for retail investors are minimized to some extent if you’re not owning the actual asset underneath it.”
While investors in the United Kingdom do not have access to bitcoin ETFs, Das highlighted that these products are intriguing and might provide respectable returns. This, he warned, might lead them to unlicensed places in their pursuit of visibility, which would be bad for the UK.
He further added:
“The UK has always said it wants to be a crypto hub. And this is one of the basic fundamentals potentially for meeting that definition.”
Although cryptocurrency exchange-traded notes were recently greenlit for debut in the UK, individual investors will not have access to them. In contrast, any American citizen may buy bitcoin ETFs.
Regarding the introduction of bitcoin ETFs, Das mentioned the rapid adoption of the products and their favorable impact on customers. He elaborated by saying that they have helped establish bitcoin’s credibility among financial institutions.
Daniel Seifert, CEO of Coinbase UK, seems to agree with Das that ETFs would be a good addition to the UK market. In response to a question on whether he would support the introduction of bitcoin exchange-traded funds (ETFs) to the UK market, Seifert said in a recent interview that he thinks customers should have more options.
