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More Asset Managers Like Fidelity, UBS And State Street Show Interest To Launch Crypto Products

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Fidelity, UBS, and State Street are considering launching digital asset investment-focused products.



Top managers of the companies told the Financial Times.

Matteo Andreetto, head of SSGA’s SPDR exchange-traded fund business for Europe, the Middle East, and Africa, told FT:

“Clearly, we are looking at the space and evaluating the way the space is evolving. Clients are not only asking about cryptocurrencies but also specifically SPDR crypto products. They like the fact we are a robust, safe pair of hands.”

Fidelity told FT it was “keeping close to the evolution of cryptocurrencies as part of a wider exploration of the potential for digital assets, and the distributed ledger technology that sits behind them. As you would expect, Fidelity International is exploring the potential of this technology for the benefit of clients,”.

Clemens Reuter, global head of ETFs at UBS Asset Management, said: “Cryptocurrency is an area everyone needs to look at the moment.” However, he added: “As of today, we have not decided to launch anything.”

Reuter also noted that investing in cryptocurrencies is not yet permitted for funds issued under the Collective Investment Directive – UCITS (Undertakings for Collective Investment in Transferable Securities).

 

USA SEC Bitcoin futures ETF approval is making more institutions enter crypto.

On October 19th SEC approved Bitcoin futures ETF from ProShares that started trading on the New York Stock Exchange (NYSE), under the ticker BITO.

On Oct 22 on the Nasdaq Stock Exchange under the ticker BTF, a second Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

On Tuesday, November 16, the Chicago Board Options Exchange (CBOE) launched the third Bitcoin ETF futures trading of VanEck under the ticker XBTF.

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Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.

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