Melanion Capital Launch Bitcoin Tracker ETF

Paris-based Melanion Capital, a derivatives and computer-driven fund manager, has reportedly received regulatory approval to launch an exchange-traded fund (ETF) that tracks Bitcoin-related stocks for investors across the European Union (EU). However, the fund will not be a bitcoin ETF since it won’t invest in or hold BTC directly.

According to the Financial Times, Melanion’s ETF proposal received approval from French regulators who ruled that it meets key EU standards, known as Ucits, meaning it will be available in all of the union’s 27 member states. The Paris-based firm’s ETF has become one of the first bitcoin-related funds to receive the Ucits rating.

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