ETNs for Bitcoin and Ether will be launched on May 28 on the LSE. Applications for this can be given from April 8. Britain’s Barclays Bank created the concept of ETN in 2006. Its objective was to simplify the process of investing in currencies and commodities by using the credit system and to increase returns. ETN is issued by a bank as an unsecured debt security. It may track an index of securities and its price is linked to the performance of the index. This index on LSE bitcoin And there will be Ether. There has been a boom in the crypto market in the last few weeks. Recently both these cryptocurrencies had made their high levels.
The institution issuing the ETN pays its holders returns on the index over a specified period. Along with this, on completion of the maturity period of ETN, the original amount of investment is also returned. The central government continues to have a strict attitude towards cryptocurrencies in India. Recently, Finance Minister Nirmala Sitharaman had said that cryptocurrencies are not considered or seen as ‘currency’ in the country.
On the question of change in the attitude of the government towards this sector after the boom in the crypto market, Sitharaman said, “The government has always believed that the assets created on crypto should be used as assets for trading and many other things. “They can be used as currencies. We have not regulated them. This is the position of the central government.” There has been a lot of growth in the crypto market after the Bitcoin Spot ETF got approval from the securities regulator in America. Funding in these ETFs is increasing.
Cryptocurrency prices in Indian exchanges
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