🫨🫨🇪🇺Crypto step from the European Union for the 12 trillion euro market: "If it happens, everything will change"
The #European Union regulator ESMA is asking financial industry executives and experts questions about whether cryptocurrencies can be considered an investment product. Experts note that if the EU finds the future answers positive and includes crypto in this area, it will have a "game-changing" effect on the financial world.
The European Securities and Markets Authority (ESMA) has launched a study on whether cryptocurrencies can be considered an investment product. The institution, which asks industry leaders and experts for their opinions on the subject and requests them back, is currently on standby.
Many times higher than the US spot #Bitcoin ETFs…
While ESMA is considering whether cryptocurrencies can be included in the “Collective Investment Funds in convertible / transferable Securities”, abbreviated as UCITS, it is seen that the size of the investment trust/funds market also exceeds 12 trillion euros. This figure represents a value many times higher than Bitcoin spot ETFs in the United States.
In addition to being a type of mutual fund, also commonly called a UCITS, it allows individual investors to come together to create a portfolio and the portfolio is handed over to a professional manager Dec. These funds mostly invest in stocks, bonds, liquid funds and other financial instruments. Here ESMA is discussing whether cryptocurrencies can also be included in these funds.
It will have a game-changing effect”
Of course, such a move will pave the way for crowds to get involved in the crypto world much easier.
Speaking to DL News, financial regulation expert Sean Tuffy, who made the news on the subject, said, “If ESMA is convinced, the last step that will bring cryptocurrencies to the mainstream will have been taken in Europe. This makes a game-changing impact. Everything changes,” he said.
