Not only United States. The craze for ETF which replicate the price of BTC begins to infect Europe too, with the possible entry into this market of one of the largest banking groups in the continent.
Let’s talk about Banco Santander, which would be about to launch its own exchange traded fund on $ BTC, with times and methods that will however be investigated more thoroughly. This is great news, despite the fact that it is relatively easy to invest in BTC in Europe also with financial instruments of this type.
What Santander is going to do and why it will be important for the BTC market
By now even the groups that traditionally had done everything to stay away from it, are giving in to the wave of BTC. Last in chronological order but not of importance it is Banco Santander, among the most prestigious banks in Europe, which according to what circulated on Ok Diary it would now be at the last stages for the presentation of a product of this type.
Single group in Spain, relatively traditional country when it comes to crypto assets and more generally of finance. In Italy, at least at present, it would be science fiction to talk about a ETF of a SGR of our country on BTC. While in Spain, at least according to these rumors, it could be very close.
A group that – readers of Cryptocurrency.it – actually he was almost immediately one of the most attentive to the possible evolutions of the crypto world, as recently remarked by Ana Botin, CEO of the group.
We are leaders in the world of cryptocurrencies. We have issued the first bond on the blockchain. And now we are almost ready to offer cryptocurrency ETFs.
Lively situation in Spain, but not yet fully defined
The situation in Spain is, cards in hand, certainly more lively than in Italy, although not yet defined in detail. The body that is responsible for supervising banks has already requested detailed plans for institutions for their moves into the crypto world from here to 2024, as well as one of the most important parties, the Partido Popular, I had requested the ability to pay mortgages with cryptocurrencies.
All this while in Italy, the authorities do not want it, we continue to talk about pyramid of bits [sic] and of scams. As if BTC and the world of decentralized finance were not already a concrete and decidedly integrated reality in the world of classical finance.
Lively situation in Spain which, however, is also closely monitored by central bank, who recently requested a summa of all the relationships that the main banks in the country entertain with exchange and custodial services. Sure, theEurope it is not and never will be the Klondike of cryptocurrencies, but an opening of the Spain it could also trigger an important cascade effect in our continent, with all that will ensue in terms of spread of cryptocurrencies. Also taking into account the fact that, as in America, an instrument like a ETF would be able to make it BTC accessible, or rather, more easily accessible also to institutional.
Meanwhile in Zimbabwe …
The other important news that has been circulating for a few hours now concerns the possibility that it Zimbabwe, a country where inflation has been in the 4-digit range for several years, may be interested in BTC also acting as payment method.
It is difficult to understand how much truth there is in a country that remains fundamentally authoritarian and where state control of the monetary base has created damage that will take decades to overcome.