The head of Kraken UK supported the initiative to launch a bitcoin ETF in the UK
The managing director of Kraken UK has allowed the launch of a bitcoin ETF in the UK. This was made possible by reducing risks for investors.
Biwu Das, Managing Director of Kraken UK, said that he supports the launch of bitcoin-based cryptocurrency ETFs in the UK. This is reported by The Block with reference to Das's recent speech at the Digital Asset Summit in London.
According to the head of the Kraken UK exchange, this product has significant potential and high profitability. He noted that the world has changed since the UK Financial Conduct Authority (FCA) banned access to exchange-traded index notes (ETNs) in January 2021.
"In any case, many of the concerns of regulators related to ensuring the protection of retail investors have been minimized," says Bivu Das.
The top manager of Kraken US added that due to the lack of access, British investors are forced to use the services of unregulated platforms.
Note that his point of view is shared by the head of Coinbase UK, Daniel Seifert. He agrees that Bitcoin ETFs should become available to UK investors.
