French fund manager launches EU-regulated ETF that tracks Bitcoin price

French fund manager launches EU-regulated ETF that tracks Bitcoin price

France’s securities regulator approves: The Bitcoin-tracking fund fully complies with the European Union’s UCITS standards. Paris-based derivatives fund manager Melanion Capital has launched a new, European Union-regulated fund that aims to track the price of Bitcoin (BTC) at a correlation of up to 90%.The fund is the first of its kind to be issued under the EU’s investment fund umbrella UCITS — an acronym for “undertakings for the collective investment in transferable securities.” According to the European Commission’s data, UCITS-compliant funds account for roughly 75% of all collective....

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