The Italian Stock Exchange, Borsa Italiana, this morning listed a “Bitcoin (BTC)-thematic” exchange-traded fund (ETF) by Melanion Capital, bringing Bitcoin exposure to Italian institutions and retirement plans.
Cyril Sabbagh, managing director at Melanion Capital told Cointelegraph, “the Melanion BTC Equities Universe UCITS ETF is an equity ETF around stocks in the crypto ecosystem.” Sabbagh explained that the ETF would be “accessible to as many people as possible.”
“The Italian Stock Exchange (Borsa Italiana) has not accepted any ‘spot ETFs’ but welcomes our thematic ETF!”
Following the successful launch of a Bitcoin-thematic ETF in October 2021 on Euronext Paris, a Pan-European stock exchange, Melanion Capital targeted Italy for its ETF. Sabbagh explains:
“In Europe spot ETFs (exchange traded funds) are ETNs (exchange traded notes) or ETCs (exchange traded certificates)