But the news is on ETNs, my question is if ETFs are banned too. Because if they aren't I don't understand why do iBit as ETN instead of ETF. That's what I find strange about the whole thing.
I mean, I understand why BR would sell unbacked crap instead of backed crap. But if both are available, why would anyone buy the worse crap when they can buy the less bad one.
Two separate news articles separated by a day.
Britain is allowing crypto ETF's, ETN's and ETC's and ETP's next week.
Ok, ok. Then I guess the iBit will be on it's normal ETF form. What confused me was that the first article only mentioned ETNs rather than ETPs
As I understand it, an ETP is a container for all the other types of crap 😂
You understand it correctly.
Since the first headline you posted was especifically about ETNs, my thought was that the other ETPs remained banned. That's what confused me. If it's a lift on all crypto-ETPs ban, then what I wonder is if BR will simply start serving UK clients within the current ETF, which means they won't be really doing anything other than saying now you can put your money here too, or a new UK-based iBit listing, which I'd assume it would be only to use £ denomination.
I guess the former makes more sense, it doesn't really require them to do anything. The only benefit to do the later is to avoid US$ exposure for £ denominated capitals, which I'm not sure they'll give a fuck about.
