The largest European trader of exchange-traded funds (ETFs), Flow Traders NV of Amsterdam announced the addition of their trejdingovyh products exchange-traded notes (ETN) on bitcoin and ether.
Stockholm-based company XBT Provider that offers a ETF on bitcoin and ether, has confirmed that Flow Traders NV “significantly increased” the volume of securities trading over the past few months.
According to Bloomberg, ETF trading volume, carried out by the Dutch company for the first quarter of this year amounted to $284 billion. Like its major rivals, last year Flow Traders NV are faced with a reduction in trading volumes in its core market, which prompted the company to explore new asset classes.
The increased attractiveness of cryptocurrency for Flow Traders NV is that in the most volatile markets traders engaged in high frequency trading (which specializiruetsya company) get the maximum benefit.
However, unlike major American trading companies offering cryptocurrency futures Flow Traders is the first company to “disclose information about that is buying and selling crypto-notes listed on a regulated stock exchanges”.
In an interview with Bloomberg co-CEO Flow Traders NV Dennis Dijkstra (Dijkstra Dennis) said:
“People underestimate the cryptocurrency. They are very important and will very soon become regulated. Market participants are much more professional than some think. Institutional investors are interested in this topic. We know this because we get requests from them”.
However, unlike the Dutch company, the country in which it is based, is in no hurry to take a course on the early development of cryptocurrency sphere. In his statement, Nienke Torensma (Nienke Torensma), press-Secretary of Management on the financial markets of the Netherlands (AFM), said:
“We keep the activities associated with cryptocurrencies as consumers and professional license holders. Because of the novelty and anonymity of cryptocurrencies, there is a high probability of abuse. Taking into account the failure to serve the promised purpose as a currency, we do not consider it an asset class”.
It should be noted that in the spring the Minister of Finance Wopke Hoekstra (Wopke Hoekstra) has also been expressed about speculative risks associated with cryptocurrencies. In March, he sent a letter to Parliament in which he called for “international approach” for the regulation of cryptocurrencies in the first place — to protect novice investors.
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