Banco Santander will take an important step by announcing the launch of investments in cryptocurrencies with its Bitcoin ETFs product, Europa Press announced on Monday, November 8th, 2021.
Banco Español will be able to meet the demand of its customers looking to invest in crypto assets through a regulated product, as announced by Ana Botín, president of the financial institution.
Ana Patricia Botin makes it clear, however, that when issuing Bitcoin ETFs she is for â ????legal compliance matters– although they need to be able to offer the product to their customers on short notice.
Banco Santander is one of the pioneering institutions in the crypto space as it has a history of issuing a $ 20 million bond on the Ethereum network.
Although the second Bitcoin ETFs made a more discreet market debut in the US in October 2021 than the first ETF launch, it made an upward trend in the market and significantly increased the value of the cryptocurrencies, surpassing the previous month’s records on Wall Street.
On the other hand, the Securities Market Commission (CNMV), the regulator in Spain, warned banks that they cannot manage or market ETFs in Spain without prior approval from the organization.