It goes without guessing that “Bitcoin ETF” is the buzz phrase at the moment. Industry giants like BlackRock, WisdomTree, Invesco, and Valkyrie submitting their BTC ETF applications to the U.S. Securities and Exchange Commission one after the other has evidently gotten the community excited.
Leaving aside the U.S., other regions have also been riding on the hype wave. France-based Melanion Capital launched its Bitcoin Equities ETF [Ticker: BTC NA] on the Euronext Amsterdam Stock Exchange today. The investment vehicle has been designed to track the Melanion Bitcoin Exposure Index. The index, in turn, consists of 30 stocks across European and American markets that are related to Bitcoin.
The Bitcoin Equities ETF is already listed on Euronext Paris and Euronext Milan stock exchanges. The Amsterdam launch has rolled the ball further for the firm. Revealing whether or not the firm is looking forward to other listings in the future, Melanion Capital’s CEO, Jad Comair, exclusively told Watcher Guru,
“In terms of future listings, we are indeed looking forward to expanding our reach beyond the current listings. We are actively exploring opportunities to expand and continue our listing campaign in Europe.“
Roland Nasr, the Business Development Manager at the investment firm revealed to Watcher Guru,
“On Euronext Paris we are the most traded UCITS ETF around the crypto ecosystem. So, we are sure that Dutch investors will also have a great appetite for the product.”
As far as first-day demand statistics pertaining to the latest launch are concerned, Comair highlighted that the process of referencing the ETF on different platforms and regulated investment solutions takes time. Thus, it is “premature” to assess specific volume figures at this stage.
Bitcoin Equities ETF will provide a ‘regulated’ solution: Exec
The official statement pointed out that via the launch, Dutch investors will get exposure to the Bitcoin ecosystem “via a fully-regulated UCITS ETF.” To be more clear-cut, the ETF adheres to the European Commission’s Undertakings for the Collective Investment in Transferable Securities [UCITS] regulatory framework for managing and trading mutual funds.
Comair highlighted that the firm’s expansion to the Euronext Amsterdam Exchange gives Dutch investors a “regulated and transparent solution” to gain exposure to Bitcoin. Elaborating on the same, he said,
“This strategic expansion to Euronext Amsterdam reflects our commitment to providing Dutch investors with a regulated and transparent solution to participate in the Bitcoin thematic.”
Apart from crypto-related companies, Melanion’s Bitcoin Exposure Index consists of stocks with investments in mining operations, Bitcoin holdings, and exchanges. Prominent names include MicroStrategy, Coinbase, and Robinhood. Other mining firms like Marathon Digital, Riot, and Hut8 are also a part of the firm’s stock index.
Specifically, Melanion expected BTC NA to “achieve a high correlation to the Bitcoin performance.” However, no minimum correlation threshold has been established. Thus, the index is “not guaranteed to follow the price of Bitcoin itself, rising or falling.”
Furthermore, Comair told Watcher Guru that the firm chose Bitcoin because “there is no second best,” and they fused that with Equities “to have regulatory clarity.” The latest Amsterdam development marks “one more step” towards the firm’s “European conquest,” the executive asserted.