Friday, 20 July, 2018

Bitcoin, Ethereum Exchange-traded Notes Now Available at Dutch Flow Traders, Europe

Europe's Largest ETF is Moving Into Cryptocurrencies | The EU's Biggest ETF Firm Expands Into Crypto Products
Jean Garcia | 09 July, 2018, 04:28

Regulatory antipathy notwithstanding, there is no actual legal basis for the AFM to stop Flow Traders or any other firm from trading regulated crypto instruments on regulated exchanges, so for the time being the push by conventional investors into crypto remains unabated.

Flow Traders, an Amsterdam "speed trader" - the term used to describe traders that use of high-speed, algorithmically driven, automated trading methods - is dealing in Exchange-Traded Notes (ETN) based on Bitcoin and Ether, according to co-CEO Dennis Dijkstra, speaking to Bloomberg. They are not able to prevent firms from trading regulated assets on a regulated exchange. "Given its inability to serve the promised objective as a currency, we don't regard it to be an asset class", she continued. While five other speed traders are now operating in the U.S. with regard to cryptocurrency derivatives, Flow Traders NV is reported to be the first firm to disclose its trading on regulated stock exchanges.

One of the largest and most important traders of exchange-traded funds in Europe is moving into cryptocurrencies.

The XBT Provider, out of Stockholm Sweden offers ETFs based on Ethereum and Bitcoin Tokens, has officially confirmed that Flow Traders NV has increased at a dramatic rate its securities trading over the previous few months.

"People underestimate crypto. It's big, and it is about to be regulated very soon".

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Flow Traders, the largest European exchange-traded fund (ETF) trader, has entered the crypto world, becoming the first firm in the world to disclose it's buying and selling crypto notes listed on regulated stock exchanges.

Flow Traders is a speed trader, which means it hedges every trade as quickly as possible. They both allow people to invest in a commodity without actually having to hold that commodity.

"With the growing interest from institutional clients willing to invest in digital assets, I can see why so many proprietary trading businesses are now focusing on this new asset class", Laurent Kssis, managing director at XBT Provider, said.

Essentially, ETNs aim to lower slippage while increasing liquidity. And this would also be potentially unwelcome for many cryptocurrency enthusiasts. The market participants are much more professional than people think.

The five big US speed traders are already into crypto markets and they are also exploring the possibilities in cryptocurrency futures and underlying currencies. Now the trading platform has announced it's entering the cryptocurrency space by providing customers ethereum and bitcoin ETNs. "Institutional investors are interested- we know they are because we get requests". Likewise, Barclays has started providing banking services to Coinbase, the San Francisco based crypto broker.

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