Europe’s largest trader of exchange-traded funds (ETFs) is moving into crypto in the face of criticism by Dutch Authorities, according to Bloomberg, opening the door for a Bitcoin ETF. This will lead the way for institutional money to turn the crypto market around and set new heights.
Even though Dutch Authorities expressed their disapproval over the move by Flow Traders NV, they are powerless to stop them. They are not able to prevent firms from trading regulated assets on a regulated exchange. The Netherlands Authority for the Financial Markets (AFM) also failed to understand that many traders consider cryptocurrencies as crypto assets regardless of their ability to function as currencies.