Bitcoin equities exchange-traded fund (ETF) is now available to investors for trading on the Euronext Amsterdam stock exchange.
On June 22, the Bitcoin Equities ETF from French investment firm Melanion Capital began trading on the Euronext Amsterdam Stock Exchange, introducing an equity-based approach to investing in the Bitcoin ecosystem.
BTC NA is designed to monitor the Melanion Bitcoin Exposure Index, a custom basket of European and American stocks highly correlated with the BTC market price.
The ETF is compliant with the European Commission’s UCITS regulatory framework, which is used to manage and trade mutual funds.
By providing regulatory and investor protection requirements, UCITS funds permit investment firms to register and sell trading products throughout the European Union.
CEO Jad Comair of Melanion Capital stated that the company’s expansion to the Euronext Amsterdam exchange provides Dutch investors with a ‘regulated and transparent solution’ to obtain exposure to the Bitcoin ecosystem.
“The Dutch market has shown tremendous interest in digital assets, and we are delighted to offer them an avenue to access this exciting investment opportunity within a regulated framework.”
The Bitcoin Exposure Index compiled by Melanion comprises stocks from corporations with significant Bitcoin holdings, cryptocurrency exchanges, and mining operations.
MicroStrategy, which under Michael Saylor’s guidance has acquired over 140,000 BTC valued at over $12.6 billion as of April 2023, is included in the index. Coinbase and Robinhood are two notable exchange platforms, while Riot, Marathon Digital, and Hut8 are included in the stock index of Melanion.
The company notes that the BTC NA ETF seeks to maintain a correlation with Bitcoin’s market performance, although a minimum correlation threshold has yet to be established. The Bitcoin Equities ETF from Melanion is also listed on Euronext Paris and Euronext Milan.
BlackRock, the world’s largest asset manager, applied to a Bitcoin spot exchange-traded fund (ETF) with the United States Securities and Exchange Commission in June 2023, generating headlines about Bitcoin ETFs.
