Santander, a leading financial institution in Spain, is preparing to offer a Bitcoin ETF to its customers in the country. This, while Spanish asset managers have been largely reluctant to embrace crypto products as part of their investment portfolio offerings to customers.
Santander Bitcoin ETF in Preparation
Santander will be giving the finishing touches to a Bitcoin ETF product in Spain, according to reports from local sources. This reportedly positions the company to be the only financial institution interested in offering this type of product to its customers in Spain. Santander’s Executive Chairman Ana Botín declared that the institution has had a team working on this offering for some time. She stated:
Our clients want to buy bitcoin, but we have been quite slow to adopt it due to regulatory issues. We are now about to offer crypto ETFs.
The fact is that most asset managers in Spain are still reluctant to put their funds in cryptocurrency-based investments, at least do