Sure! Here’s the rewritten content with the HTML tags preserved:
The UK’s green light for Bitcoin ETPs aimed at retail investors is merely the beginning of institutional embrace, according to Sygnum Bank’s CIO.
Summary
- Sygnum Bank’s CIO asserts that the UK is aligning with the U.S. and Europe regarding crypto regulation.
- Traditional financial institutions like BlackRock and crypto-native companies are converging towards Bitcoin.
- In the U.S., there are indications of advancements in ETPs beyond just Bitcoin and Ethereum.
The recent approval of Bitcoin ETPs by the UK’s Financial Conduct Authority signifies a growing institutional recognition of Bitcoin as a valid asset class, remarks Fabian Dori, CIO of Sygnum Bank. The leading executive at the first regulated digital asset bank stated in an interview with crypto.news that regulators face increasing pressure to broaden investment opportunities.
On October 20, the UK’s chief financial regulator, the FCA, notably lifted its ban on retail Bitcoin (BTC) investments. Dori interprets this move as a sign that UK regulators are following trends seen in the U.S. and the EU. Following this decision, significant institutions wasted no time in seizing the opportunity, with BlackRock introducing its iShares Bitcoin ETP on the London Stock Exchange.
“The involvement of both traditional asset managers (like BlackRock) and crypto-native issuers (such as 21Shares) as initial sponsors highlights a significant policy shift, while the FCA retains oversight through clear guidelines,” Fabian Dori, Sygnum Bank.
Dori suggests that this measured approach indicates that UK authorities are not hastening deregulation but are instead vigilantly assessing risk. Furthermore, it appears that regulators are considering the actions of key global players to ensure the UK does not lag behind.
What’s next for Bitcoin regulation?
Fabian Dori, CIO of Sygnum Bank, anticipates further initiatives to enhance Bitcoin accessibility for investors, particularly in the U.S., which is spearheading the movement toward pro-crypto financial regulations.
“In the U.S., new ETPs extending beyond BTC/ETH and the introduction of the first diversified crypto baskets are advancing through preparatory phases. Concurrently, various traditional asset managers are broadening their digital-asset presence, as evidenced by BlackRock’s tokenized securities efforts,” Fabian Dori, Sygnum Bank.
