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Home » BBVA Spain offers investments in bonds that track the price of Bitcoin

BBVA Spain offers investments in bonds that track the price of Bitcoin

BBVA Spain has expanded its product offering with the Fidelity Physical Bitcoin ETN (Exchange Traded Note) bond, listed on European exchanges and whose objective is to track the price of Bitcoin (BTC).

The new financial instrument will be issued through the Exchange Traded Note of asset manager Fidelity, the ensures The The bond “is 100% physically backed by bitcoins held in escrow.”

This bond issued by Fidelity will allow BBVA clients in Spain who wish to expose part of their investments to the development of Bitcoin, “while being aware of the risks of this type of investment”. Interested parties can act via the bank’s app and website. he showed Francisco Maroto, Head of Blockchain and Digital Assets at BBVA.

The bank adds that once an investment is made, clients can monitor their global position in BBVA securities, as well as the rest of their asset portfolio.

He also claims so The product is regulated and monitored by the Federal Financial Supervisory Authority (BaFin). and was registered with the National Securities Market Commission (CNMV) with an EU passport.

The product has been available on the European market since February last year. It was launched by Fidelity after a survey conducted by the investment group revealed it 70% of institutional investors expect to buy or invest in digital assets In the near future.

In fact, more than 90% of respondents who said they were interested in digital assets expected a return over the next five years, such as a publication by Financial Times.

On the side of the Spanish bank since 2021 BBVA tries to meet the needs of a new type of customerwho are tech-savvy and want to invest “in more innovative and sustainable assets” like bitcoin and other cryptocurrencies, according to CriptoNoticias.

So that BBVA customers from the European Union as well as from Mexico, Colombia, Argentina, Peru and Chile can be reached via the subsidiary in Switzerland. You can exchange with Bitcoin.

The New Gen service allows users to invest in both traditional and innovative assets and includes a cryptocurrency portfolio that facilitates exchanges with other currencies.

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