Daniel Seifert, CEO of Coinbase UK, hails the launch of bitcoin exchange-traded funds (ETFs) in the United States as a “monumental milestone” for the cryptocurrency industry. Speaking to The Block, Seifert expressed enthusiasm for the significant momentum generated by the launch of ETFs, noting its global impact.
The availability of crypto exchange-traded notes (ETNs) in the UK is also viewed positively by Seifert. He discussed the potential of crypto ETNs with Bim Afolami, the UK’s Economic Secretary to the Treasury, during a recent Coinbase event. Although the Financial Conduct Authority (FCA) has approved ETNs for institutional investors only, Seifert sees this as a validation of the UK’s strategy and envisions a bright future for the country as a crypto hub.
Seifert emphasizes that the launch of bitcoin ETFs in the US has attracted institutional capital, providing traditional investors with a new avenue to enter the crypto ecosystem. He anticipates this trend to continue with the possibility of more products entering the market. Notably, asset management giants like BlackRock and Fidelity are engaging with their customer base about bitcoin ETFs, signaling growing institutional interest.
When questioned about the potential availability of bitcoin ETFs in the UK, Seifert emphasizes the importance of offering consumers more choice. He believes that expanding options for consumers is always beneficial, suggesting a potential opportunity for the UK to explore bitcoin ETFs in the future.