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<img width="1200" height="800" src="https://coingape.com/wp-content/uploads/2023/12/Bitcoin-ETF-2-scaled-1-e1702535490232.jpg" class="attachment-full size-full wp-post-image" alt="" decoding="async" style="float:right; margin:0 0 10px 10px;">
Bivu Das, the Managing Director of Kraken UK, has given a positive opinion on the launch of Bitcoin Exchange-Traded Funds (ETFs) in the UK market. This endorsement comes at a time when the UK is on the verge of permitting institutional investors to engage with Bitcoin Exchange-Traded Notes (ETNs). On the contrary, retail investors are still prohibited from accessing the US-based <a href="https://coingape.com/five-days-of-bitcoin-etf-outflows-but-btc-price-shows-reversal-signs/?utm_source=cgtelegram">Bitcoin ETFs</a>. 
<h2 id="kraken-uk-s-position-on-bitcoin-etfs">Kraken UK’s Position on Bitcoin ETFs</h2> 
During his speech at the Digital Asset Summit in London, Bivu Das advocated the demand for Bitcoin ETFs in the UK. Das emphasized the transformative dynamics in the global financial architecture that started from the failures of these financial instruments in the UK in 2021. He suggested that <a href="https://coingape.com/bitcoin-etf-blackrock-fidelity-break-record-with-49-straight-days-of-inflows/?utm_source=cgtelegram">Bitcoin </a>ETFs would address some regulatory issues as a cushion for retail investors as they wouldn’t have direct exposure to the underlying asset. 
Das also pointed out some of the advantages that ETFs have, one of which is the possibility of huge returns for UK investors since, currently, there is no product of that kind. He, in addition, stated that these restrictions could push investors into unregulated vehicles to access Bitcoin, which is risky. Considering the UK’s direction in becoming a crypto hub, he said that ETFs will be a spin-off of this. 
<h2 id="industry-support-for-broader-access">Industry Support for Broader Access</h2> 
The positivity surrounding Bitcoin ETFs in the UK is not only in the view of Kraken UK’s Managing Director. A positive opinion was given by the CEO of Coinbase UK, <a href="https://coingape.com/coinbase-vp-hints-at-other-countries-filling-crypto-vacuum-left-by-us/?utm_source=cgtelegram">Daniel Seifert</a>. Seifert is positive about the forthcoming introduction of crypto ETNs in the UK, although only institutional investors can acquire them. He has been vocal about the significant impact of Bitcoin ETFs in the U.S., considering their introduction as a revolutionary move for the cryptocurrency industry. 
Besides, Seifert’s excitement is not limited by the broader message of ETFs, which is the potential inflow of institutional money into the crypto market. This position is confirmed by the general industry belief that these types of financial instruments could facilitate the access of traditional investors into the cryptocurrency space. Seifert supports the idea of greater consumer choice, describing Bitcoin ETFs becoming available in the UK as a positive development. 
<h2 id="anticipated-impact-on-the-crypto-market">Anticipated Impact on the Crypto Market</h2> 
However, the discussion on Bitcoin ETFs goes further from the <a href="https://coingape.com/coinshares-wisdomtree-vaneck-rush-to-uk-fca-eases-grip-crypto-etps/?utm_source=cgtelegram">UK </a>into global features of such financial products. In the United States, the launch of Bitcoin ETFs has been met with considerable enthusiasm and is seen as a legitimizing force for Bitcoin among institutional investors.&nbsp; 
This, in turn, initiated a number of discussions in other regions on the possibility of such products, with the industry leaders watching the developments of the U.S. market closely. 
Analysts, in addition, have noted that the demand for Bitcoin ETFs tends to increase in correlation with certain market conditions, suggesting a dynamic relationship between ETFs and the underlying Bitcoin market.&nbsp; 
Read Also: <a href="https://coingape.com/eu-implements-ban-on-unverified-self-hosted-crypto-wallets/?utm_source=cgtelegram">EU Implements Ban on Unverified Self-Hosted Crypto Wallet</a> 
The post <a href="https://coingape.com/kraken-uk-chief-endorses-bitcoin-etfs-for-british-investors/">Kraken UK Chief Endorses Bitcoin ETFs for British Investors</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Kraken UK Chief Endorses Bitcoin ETFs for British Investors

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