Coinbase UK CEO: Crypto ETNs Approved for UK Institutional Investors
According to Daniel Seifert, CEO of Coinbase UK, the introduction of crypto exchange-traded notes (ETNs) is a positive development for the UK.
Seifert expressed his optimism after discussing the matter with Bim Afolami, the UK’s Economic Secretary to the Treasury, during a recent Coinbase event. He emphasized the potential benefits for the industry and for the UK’s position as a crypto hub.
The Financial Conduct Authority (FCA), the UK’s markets regulator, has approved the launch of crypto ETNs, albeit exclusively for institutional investors. Seifert views this decision as a validation of the UK’s strategy and foresees a promising future for the country.
Regarding the recent launch of bitcoin exchange-traded funds (ETFs) in the US, Seifert expressed even greater enthusiasm, considering it a monumental milestone for the cryptocurrency industry worldwide.
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He highlighted the influx of institutional capital resulting from bitcoin ETFs, providing traditional investors with a new entry point into the crypto ecosystem. Seifert anticipates this trend to continue, especially with asset management giants like BlackRock and Fidelity discussing bitcoin ETFs with their client base.
When asked about the potential availability of bitcoin ETFs in the UK, Seifert emphasized the importance of offering consumers more choice, indicating a favorable stance towards their introduction.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
