UAE PLANS ON DEBUTING PHYSICAL BITCOIN
21Shares, a major global provider of cryptocurrency exchange-trading products (ETP), is debuting a physical Bitcoin ETP in the United Arab Emirates.
The new 21Shares Bitcoin ETP has started trading on the international financial exchange Nasdaq Dubai under the ticker ABTC, the firm announced on October 12.
The CEO mentioned that the MENA region has become a hub for crypto companies and major exchanges like FTX, Kraken and Blockchain.com, attracting even more investors following India’s decision to tax crypto earnings at 30%. “The Middle East’s level of interest and crypto-friendliness made it a prime market for expansion for 21Shares,” Rashwan stated.