Citigroup (NYSE:C) has come up with a new, less risky way of investing in cryptocurrencies without actually owning them. According to Business Insider sources, the New York-based bank’s new investment instrument is called Digital Asset Receipt (DAR) and would place cryptocurrencies within existing regulatory frames.
The structure provides Wall Street investors such as asset managers and hedge funds with a safer way of investing in the digital assets market, and can prove to be a game changer for cryptocurrency trading. DAR operates on the same principle as the American Depository Receipt (ADR) – a negotiable certificate that allows US investors to own a specified number of shares in foreign stocks not otherwise listed on US exchanges...
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