EddieJayonCrypto

 5 Jan 24

tl;dr

A Bloomberg report revealed that former Citigroup executives have introduced Bitcoin depositary receipts (BTC DRs) as an alternative to spot-Bitcoin ETFs. Unlike ETFs, DRs do not require regulatory approval and provide institutional investors with a way to own Bitcoin-based securities. RDC plans to ...

A Bloomberg report revealed that former Citigroup executives have introduced Bitcoin depositary receipts (BTC DRs) as an alternative to spot-Bitcoin ETFs. Unlike ETFs, DRs do not require regulatory approval and provide institutional investors with a way to own Bitcoin-based securities. RDC plans to issue the first BTC DRs to qualified global institutional investors and aims to provide direct exposure to BTC, overcoming challenges associated with crypto market infrastructure and regulatory uncertainties. 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.

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Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24