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French’s Melanion Capital Plans to Launch the First EU-Regulated Bitcoin ETF

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crypto currency bit coin and debit bankin card

Melanion Capital, a French-based asset manager, is planning to launch a bitcoin price-tracking fund in compliance with the EU standards, according to the company’s press release.
The exchange-traded, Ucits, enables investors to access bitcoin via mutual funds in the EU.
Ucits will track a collection of thirty stocks like blockchain technology with up to 90% correlation to bitcoin prices.
The platform will weigh stocks based on how sensitive they are to the movements in bitcoin prices.
Ucits funds are perceived to be an international gold standard of fund regulation, and they are sold in the EU, Asia, and Latin America.
The ETF fund will be the first in Europe and will be listed on Euronext in Paris as BTC Equities Universe Ucits ETF, charging a fee of 0.75%. BTCUSD is down -3.93%

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