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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Melanion Capital has received approval to list an ETF that tracks a basket of bitcoin-related stocks, an EU Ucits first.
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CoinShares previously agreed to acquire the entire issued share capital in Napoleon Crypto SAS for $14.5 million in November 2021. Major European digital asset manager CoinShares is finalizing the acquisition of the French fintech firm Napoleon Group despite the ongoing market decline.CoinShares announced on July 4 that the firm has acquired Napoleon Asset Management, a digital asset management subsidiary of Napoleon Group.CoinShares previously entered into a sale and purchase agreement (SPA) to acquire the entire issued share capital in Napoleon Crypto SAS for 13.9 million euros ($14.5....
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