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Market
Major financial institutions' reaction to crypto in UCITS
4
Resolution / Starting Odds
Expanding crypto offerings • 25%
Maintaining current offerings • 25%
Reducing crypto exposure • 25%
No change in strategy • 25%
Public statements, official press releases from institutions like BlackRock, Morgan Stanley, BNP Paribas
Story
EU Eyes Crypto for €12T UCITS Market, Nearly 2x Bigger Than US ETFs
May 9, 2024, 11:15 AM
The European Union's securities watchdog is currently evaluating the potential inclusion of cryptocurrencies, including Bitcoin, into its investment products under the UCITS framework, which encompasses a market worth approximately €12 trillion. This initiative, aimed at broadening the accessibility of cryptocurrencies, is being considered as the EU seeks opinions from stakeholders on this significant move. UCITS are noted to be almost twice as large as US ETFs. Additionally, Bitcoin ETFs have already attracted over $50 billion in the USA. Concurrently, global interest in cryptocurrency-based investment products is rising, as evidenced by actions in other regions such as South Korea and Australia moving towards approving Bitcoin ETFs, and significant institutions like BlackRock, Morgan Stanley, and BNP Paribas engaging with Bitcoin ETFs.
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Similar markets
Increase in services • 33%
No change • 33%
Decrease in services • 34%
Expand cryptocurrency services • 33%
Maintain current services • 33%
Reduce cryptocurrency services • 33%
Significant positive reaction • 33%
Neutral or no significant change • 33%
Negative reaction • 33%
Vanguard • 20%
Charles Schwab • 20%
JP Morgan • 20%
Goldman Sachs • 20%
Other • 20%
Goldman Sachs • 25%
Morgan Stanley • 25%
Citigroup • 25%
Bank of America • 25%
Goldman Sachs • 33%
JP Morgan • 33%
Morgan Stanley • 33%
Increase • 33%
Stay the same • 34%
Decrease • 33%
Support Passage • 25%
Oppose Passage • 25%
Neutral • 25%
No Public Reaction • 25%
Increased custody services • 25%
Decreased custody services • 25%
No change in services • 25%
Banks exit from cryptocurrency custody • 25%
Increase USDC holdings • 25%
Maintain current stablecoin proportions • 25%
Increase non-USDC stablecoin holdings • 25%
No significant changes • 25%
Increases significantly • 33%
Increases slightly • 33%
Stays the same or decreases • 33%