SEC in the cryptocurrency market in May spot Ethereum ETF While the decision regarding the applications was eagerly awaited, an important move came from the European Union.
According to the news of DLNews European Union Securities and Markets Authority (ESMA) He sought opinions from industry leaders and experts on whether cryptocurrencies should be included in investment products.
At this point, ESMA states that cryptocurrencies “Collective Investment Funds in Transferable Securities (UCITS)‘to” Investigating whether to include it or not.
Evaluating this move, experts stated that it is a move that can enable cryptocurrencies to access a larger market than spot Bitcoin ETFs. “This move opens the door to wider access to cryptocurrencies through UCITS, a €12 trillion market.” said.
Financial regulation expert Sean Tuffy said in a statement: “If ESMA is convinced that cryptocurrencies should be included in investment products, this will be the final step in popularizing cryptocurrencies in Europe. After this move, more people turn to cryptocurrencies and everything changes.” said.
Tuffy is under the spotlight from US and Hong Kong regulators this year. Bitcoin He also pointed out that he approved his ETFs and then many new investors came to the cryptocurrency sector.
Finally, experts added that the impact of ESMA’s inclusion of cryptocurrencies within UCITS will be more important than that of US spot ETFs.
*This is not investment advice.
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