Kraken UK managing director Bivu Das is calling for the introduction of Bitcoin exchange-traded fund (ETF) in the UK.
Speaking during an interview at the Digital Asset Summit in London, Das stated that Bitcoin ETFs, which are restricted in the UK, can offer investors an opportunity to make decent returns.
“The UK has always said it wants to be a crypto hub. And this is one of the basic fundamentals potentially for meeting that definition,” said Das.
He added that restrictions against the product in the UK may result in investors seeking them out in unregulated jurisdictions, which may not be good for them or the UK.
Bitcoin ETFs allow investors to get exposure to the value of Bitcoin (BTC), without directly owning the cryptocurrency.
ETFs trade on traditional stock exchanges, and their value rises when the underlying asset’s price increases, or falls if it decreases.
Back in 2021, the UK’s Financial Conduct Authority (FCA) banned the retail sale of digital asset derivatives, including exchange-traded products (ETPs) that were backed by crypto.
However, Das argues that since then, t
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Author: Julius Mutunkei
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