ESMA examines crypto allocation for European investment products

After the US and the Hong Kong Special Economic Zone, European authorities are now investigating crypto-allocation for investment products.

The European Securities and Markets Authority (ESMA) is examining whether crypto assets should be included in one of Europe's largest investment markets.

We are talking about Undertakings for Collective Investment in Transferable Securities, UCITS for short - a market for investment products worth 12 trillion euros.

UCITS is the legal standard for funds in the EU, which aims to facilitate the cross-border distribution of investment funds in member states.

If UCITS is approved, it will become one of the largest general crypto funds. Shareholders now have until Aug. 7 to voice their opinions.

After the approval of spot Bitcoin ETFs in the U.S. and Hong Kong the European move could fuel the Bitcoin price with new capital. However, it remains to be seen whether crypto assets will actually be included in UCITS.