Bitcoin Forum

Swiss financial startup Amun has won an approval from the Swedish Financial Supervisory Authority (SFSA) to widen its offering of crypto-based financial products to retail investors in the European Union.

How it will effect crypto community, what do you guys think?

The article: https://www.coindesk.com/swiss-startup-amun-wins-regulatory-approval-to-sell-crypto-etps-to-eu-retailers

It's difficult to say. Approval to sell cryptocurrency ETPs basically to all European retail investors sounds great, but the devil is in the details. Based on their prospectus (https://www.amun.com/img/uploads/aeth-amun-base-prospectus-13-november-2018.pdf), it looks to me like Amun's products are open-ended and operate similar to ETFs. That means that if there is significant demand for the ETPs on the Swiss SIX and Boerse Stuttgart exchanges, that demand could spill over into the overall market, driving prices higher.

I suppose that's a big if, though. There's no telling how much interest there is in these products yet.

This is good news but whether this can be affecting positively the overall Bitcoin market that is something I doubt. Right now, there are good deals of good news on the horizon in the area of adoption and new infrastructure but it seems to me that the market is just generally ignoring them. I really don't know why but gone are the days when even a little good news can spark a rise in the Bitcoin market; these days sometimes the market is reacting good and but most of the times it does not.

Switzerland is known to be a very crypto-friendly country, and I am not wondering if soon there will be more good new platforms that the government will be approving relative to the cryptocurrency market. Maybe it is time that Bitcoin should be looking at this country as the most viable leader in this field and should look into it as its base.

It also means that if there is significant selling, it will also spill into the overall market...

this



too simplistic

depending on the details (as already noted), this could either increase "spot" market volume (i.e. if these vehicles permit BTC settlement), or simply prove to be a sideshow to the action (as has been the case with cash-only settled futures markets in the US).

It's too easy to affect BTC's supply-side, because customer delivery of digital abstractions is universally available to all participants in the regular Bitcoin exchanges, so all these layers of contract markets that the traditional financial institutions seek to add to to the cryptocurrency landscape simply cannot operate in the same way they do in the traditional finance system. They can only add liquidity, or perform a pure betting function, they cannot actually contribute to the price trend, as they're not designed for the characteristics of the cryptocurrency market.

Such positive news is what is needed in this space and not wallet hack and whale alerts. It's a process of continues mass adoption which will lead to a wider Cryptocurrency participation, and eventual price growth.

That's right, we need to develop this industry, every day bringing something new and something that would attract more people.