Kraken Exec Pushes for Bitcoin ETF Funds In U.K

Should the UK Open the Door to Bitcoin Investment Funds?

Bivu Das, the head of Kraken's UK operations, is making a compelling case for allowing Bitcoin investment funds to be traded in the UK. These funds, which track the price of Bitcoin, could provide investors with a convenient and regulated way to access the cryptocurrency market.

Why Are Bitcoin Investment Funds Important?

Das argues that Bitcoin investment funds are essential for the UK to become a leading crypto hub. By allowing these funds, the UK would provide investors with a legitimate and regulated way to invest in Bitcoin, which would help to legitimize the cryptocurrency for institutional investors.

What Are the Benefits of Bitcoin Investment Funds?

Bitcoin investment funds offer several benefits for investors. They allow investors to profit from the price movements of Bitcoin without having to directly own the digital currency, which can be complex and risky. Additionally, these funds trade on normal stock exchanges, making them accessible to a wide range of investors.

Why Did the UK Ban Bitcoin Investment Funds?

In 2021, UK watchdogs banned the retail sale of derivative crypto products, including funds tracking digital assets. This ban was implemented due to concerns about the volatility and lack of regulation in the cryptocurrency market.

Have the Concerns Been Addressed?

Das believes that the concerns that led to the ban have been addressed by the evolution of Bitcoin funds. These funds now have robust regulatory frameworks and address many of the risks associated with direct crypto ownership.

Is the UK Missing Out?

By not allowing Bitcoin investment funds, the UK is missing out on the potential benefits of becoming a crypto hub. Investors are seeking out these funds in other countries with looser regulations, which could lead to increased risk for UK investors.

Call to Action

Das's call to action is clear: the UK should allow Bitcoin investment funds to be bought and sold in Britain. This would provide investors with a regulated and accessible way to invest in Bitcoin, legitimize the cryptocurrency for institutions, and help the UK achieve its goal of becoming a leading crypto hub.