European Securities Authority Considers Including Cryptocurrency in €12 Trillion Investment Market

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by Giorgi Kostiuk

2 years ago

Made with AI

The European Securities and Markets Authority (ESMA) is assessing the potential incorporation of cryptocurrencies like Bitcoin into the vast investment landscape in the European Union. Specifically, the focus is on Undertakings for Collective Investment in Transferable Securities (UCITS) diversifying portfolios with cryptocurrencies among other asset classes.

ESMA has initiated discussions to gather insights and opinions from industry experts regarding the feasibility and impact of integrating cryptocurrencies into UCITS. Stakeholders are invited to provide their input by August 7, potentially leading to UCITS becoming significant mainstream funds with crypto assets exposure.

It's important to note that UCITS differs from Bitcoin exchange-traded funds (ETFs) by adopting a diverse approach instead of a singular crypto-focused fund. This strategy aligns with EU regulations prohibiting solely autonomous crypto-centric investment vehicles. The impact of such a product on Bitcoin's price is uncertain, but regulatory frameworks like the Markets in Crypto Assets (MiCA) regulation passed in 2023 aim to provide legal clarity and promote regional investment opportunities.

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