Santander is preparing to offer Bitcoin ETF in Spain-
Santander is preparing to offer Bitcoin ETF in Spain-
Santander, a leading financial institution in Spain, is preparing to offer its customers a Bitcoin ETF in the country. This, while Spanish asset managers were largely reserved to record crypto products as part of their investment portfolio for customers.
Santander Bitcoin ETF in preparation
Santander will give a Bitcoin ETF product in Spain the finishing touches, so reports from local sources. According to reports, the company is the only financial institution that is interested in offering its customers in Spain this type of product. The managing chairman of Santander, Ana Botín, said that the institution has had a team for some time that has been working on this offer. She noticed:
Our customers want to buy Bitcoin, but we have only slowly accepted it due to regulatory problems. We are now in the process of offering crypto ETFs.
The fact is that most asset managers in Spain still reluctantly at least in Germany in To invest cryptocurrency -based investments. Spain Bbva is already Bitcoin trading services for its users in Switzerland Cryptocurrency ecosystem and the clear regulations that the country offers. But cryptor regulation in Spain is a completely different topic.
No product yet registered
botín could have referred to the work that you do within the bank on the ETF, since no product of this type was registered with CNMV, the institution that monitors the country's securities market. Botín also offered no timeline with regard to the availability of this product.
The first cryptocurrency ETF approved in the USA aroused the demand from institutes that were waiting for a traditional and regulated product to invest in cryptocurrencies. However, the approved vehicle was a Bitcoin futures ETF, which made its administration costly and took part of his charm for small investors. Local investors in Spain agree that the approval of a similar product should be a spot bitcoin ETF in order to minimize the administrative costs.
Nevertheless, some believe that the importance and range of such an important product for investing in Bitcoin should not be overlooked, since Santander could give an advantage for portfolio offers. Other banks have not recognized the importance of such a offer. Caixabank, Sabadell and banking interpretation explain that they are still waiting for more regulation in this area.
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