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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.