The EU is considering incorporating crypto assets into the €12 trillion investment market, potentially impacting or surpassing U.S. ETFs

2024-05-09 14:46:47

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ChainCatcher news, according to DL News, the European Securities and Markets Authority (ESMA) is consulting with the industry and experts on whether crypto assets should be included as investment products. This move is expected to open up a broader market for cryptocurrencies, far exceeding the market size of Bitcoin spot ETFs.

It is reported that the plan aims to expand the scope of UCITS (Undertakings for Collective Investment in Transferable Securities), which has a market size of up to €12 trillion. If implemented, this would be a key step towards the mainstreaming of crypto assets in Europe, with financial regulation expert Sean Tuffy stating that it has the potential to be a "game changer."

The consultation deadline for ESMA is August 7, and it remains to be seen whether it will be approved. DLA Piper lawyer Andrea Pantaleo noted that the impact of this move will far exceed that of U.S. ETFs, as many fund sectors may direct some liquidity towards crypto assets.

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