Europe's largest ETF trader begins working with Ethereum and Bitcoin. Flow Traders NV is expanding its trading products and entering the cryptocurrency market.
The largest trader of exchange-traded funds in the region, the Dutch company Flow Traders NV, has joined the cryptocurrency products market. Now, exchange-traded notes (ETN) based on Bitcoin (BTC) and Ethereum (ETH) are added to the list of exchange-traded instruments for investing in cryptocurrency. XBT Provider, a Swedish issuer of cryptocurrency investment trusts (ETNs), notes that Flow Traders have “dramatically increased” trading volumes in these securities in recent months.
According to Flow Traders NV Chief Executive Officer, Dennis Dijkstra, the cryptocurrency market has underappreciated potential and more professional major players than is commonly believed. The lack of regulation stops most institutional investors from financially participating in the crypto industry, despite their interest.
However, such enthusiasm is not observed from the Netherlands Authority for Financial Markets (AFM).
Recently, the press secretary of the Department voiced a rather categorical position of the department regarding cryptocurrency. According to her, AFM not only does not welcome, but also hinders cryptocurrency activities. The agency considers cryptocurrency susceptible to abuse due to its anonymity and lack of regulation.
Against the background of such a statement, the position of US Securities and Exchange Commission (SEC) looks quite loyal and gives hope. Earlier this month, the Commission began exploring the possibility of adopting new rules for the registration of exchange-traded funds (ETFs). Experts say the change could open up the market for investment companies offering blockchain-based ETFs. In addition, this will give a signal to investment companies to create or structure their own financial products based on Bitcoin. Most experts believe that exchange-traded funds (ETFs) will raise the Bitcoin rate to $44,000.
Fortunately, the Dutch Financial Markets Authority does not have the right to ban cryptocurrency trading and Flow Traders NV, one of the largest trader of ETF funds, with a trading volume of $284 billion, became a participant in the crypto market.. Dennis Dijkstra is confident that the use of recognized, traditional financial instruments on the crypto market today is only hindered by the position of regulators.
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