Bitcoin ETF will be offered by the Santander in Spain despite the regulation challenge

Bitcoin ETF will be offered by Santander to its customer in Spain as reported by the local sources. Spanish asset managers have been reluctant to embrace crypto products due to the country’s regulations about the whole crypto market.

Cryptocurrency is expanding as a market and attracting a lot of people around the world. Investors from every country want to invest in this lucrative and volatile market. Bitcoin ETF had a great impact on the token in past. The price of BTC went up when the first Bitcoin ETF was launched in the US. News is coming out of Spain that Bitcoin ETF will be offered by Santander to its customer in the country.

Bitcoin ETF will be offered by the Santander:

Local news from Spain has reported that Santander, a leading financial institution in Spain, is preparing to offer Bitcoin ETF in the country. Santander is the only institution in the country which is interested in such type of product. Executive Chairman of Santander, Ana Botin, has revealed that the firm has a team of developers that is working on this offering for some time. She further said:

Our clients want to buy bitcoin, but we have been quite slow to adopt it due to regulatory issues. We are now about to offer crypto ETFs.

Spain’s firm BBVA is already providing crypto services in other country but domestically Santander is the first institution to do this. Most companies are reluctant to offer such services due to the strict regulation in the country. It is also worth noting that CNMV (Institution which sees the securities market in Spain) has not received this kind of registration proposal. If Bitcoin ETF will be offered it will be good for the investors in the country.

Bitcoin ETF will be offered
Top/lowest TSR performance among Western European Banks for Q2 2021. Source: Finbold

Santander was ranked number 3 in European Union banks with the highest TSR (Total Shareholder Return) at 12.1% between April 2021 and July 2021. In my opinion, the investor of Spain will have more opportunities and more avenues to invest in. For more content click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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