Melanion Bitcoin Equities ETF Debuts on Euronext Amsterdam

The Netherlands has approved a new exchange-traded fund (ETF) that will expose investors to a basket of Bitcoin-related corporate stocks.

On June 22, the Bitcoin Equities ETF from French investment firm Melanion Capital began trading on the Euronext Amsterdam Stock Exchange, introducing an equity-based approach to investing in the Bitcoin ecosystem.

The ETF is designed to monitor the Melanion Bitcoin Exposure Index, a custom basket of European and American stocks that are highly correlated with the market price of Bitcoin.

The ETF complies with the Undertakings for Collective Investment in Transferable Securities (UCITS) regulatory framework established by the European Commission for administering and trading mutual funds.

By providing regulatory and investor protection requirements, UCITS funds permit investment firms to register and sell trading products across the European Union.

Jad Comair, the chief executive officer of Melanion Capital, stated that the firm’s expansion to the Euronext Amsterdam exchange provides Dutch investors with a “regulated and transparent solution” to obtain exposure to the Bitcoin ecosystem.

“The Dutch market has shown tremendous interest in digital assets, and we are delighted to offer them an avenue to access this exciting investment opportunity within a regulated framework.”

The Bitcoin Exposure Index compiled by Melanion comprises stocks from corporations with significant Bitcoin holdings, cryptocurrency exchanges, and mining operations.

MicroStrategy, which under Michael Saylor’s direction has acquired over 140,000 BTC valued at over $12.6 billion as of April 2023, is included in the index.

Coinbase and Robinhood are two notable exchange platforms, while Riot, Marathon Digital, and Hut8 are included in the stock index of Melanion.

The company notes that the ETF intends to maintain a correlation with Bitcoin’s market performance, although a minimal correlation threshold has not been established.

The Bitcoin Equities ETF from Melanion is also listed on Euronext Paris and Euronext Milan.

BlackRock, the world’s largest asset manager, applied for a Bitcoin spot ETF with the United States Securities and Exchange Commission in June 2023, propelling Bitcoin ETFs into the headlines.