Dutch Speed Trading Firm Enters Crypto Market Despite Regulator’s Warnings

Dutch Speed Trading Firm Enters Crypto Market Despite Regulator’s Warnings

Europe's biggest exchange-traded funds [ETF] trader that has handled close to $700 billion in ETF trading in the past year, has now started market making on Ethereum and Bitcoin Exchange traded notes [ETNs]. According to Swedish ETN issuer XBT Provider, the volume of its cryptocurrency notes being traded by Flow Traders has "dramatically increased" over the past few months.

According to Bloomberg, unlike the major US trading firms now offering cryptocurrency futures, Flow Traders is the first one to "disclose it's buying and selling crypto notes listed on regulated stock exchanges". This possibly serves as a vote of confidence in the future of the crypto market.

"People underestimate crypto. It's big, and it is about to be regulated very soon". 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. "Institutional investors are interested - we know they are because we get requests." .

Fortunately for Flow Traders NV, the AFM can't stop firms from trading regulated instruments on regulated exchanges.

But Nienke Torensma, spokeswoman for the Dutch Authority for the Financial markets, recommends to institutional investors and consumers not to invest in cryptocurrencies.

CCN reported in March that Coinbase was granted a UK E-Money License and a bank account with Barclays. For example, Goldman Sachs Group Inc. has made a decision to set up a digital-asset trading desk.

Notably, market commentators believe publicly traded notes/funds would make crypto trading more appealing for institutional investors as it is a safer and easier way to gain exposure to the exciting new asset class.

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