Banco Santander is about to offer a bitcoin exchange-traded fund (ETF) to its clients in Spain. In fact, the president of the bank, Ana Botín, assured that cryptocurrencies will be the most important issue in the finance industry in the short term.
Botín mentioned that this new offer responds to the request from customers, although it has been slow due to legal compliance issues.
In fact, this Wednesday the National Securities Market Commission (CNMV) in Spain warned banks and fund managers that cryptocurrency ETFs cannot be traded in the Iberian country without the authorization of this body.
ETFs have been at the center of controversy in recent weeks, since the first product of its kind linked to bitcoin, which is already listed on Wall Street, was approved in the United States.
For this reason, Spanish banks seem to be moving in that direction as well, and this could perhaps be replicated in other countries in the future.
Reference-www.eleconomista.com.mx