A recent Bloomberg report revealed that a group of former Citigroup executives had introduced an investment offering called Bitcoin (BTC) depositary receipts (BTC DRs).
These securities, backed by the largest cryptocurrency in the market, are being positioned as an alternative to spot-Bitcoin exchange-traded funds (ETFs) that require approval from US regulators.
The startup behind this initiative, Receipts Depositary Corporation (RDC), plans to issue the first Bitcoin depositary receipts to qualified global institutional investors, providing them a convenient and regulated way to gain exposure to BTC.
Bitcoin Depositary Receipts Vs Bitcoin ETFs
Bitcoin depositary receipts, introduced by Receipts Depositary Corporation, offer distinct differences compared to spot Bitcoin ETFs.
While speculation about the approval or denial of Bitcoin ETFs intensifies, RDC’s offering aims to “bypass” the need for regulatory approval and provide a distinct investment opportunity. BTC ETFs requ
We współpracy z: https://bitcoinist.com/ex-citigroup-execs-launch-bitcoin-backed-securities/
