Bitcoin ETFs have been a smash hit this year, especially since the launch of the first futures one in the United States last month.
The appetite for Bitcoin and other cryptocurrencies is growing at an unprecedented rate.
If approved, the investment vehicle would be the first-of-its-kind to be rolled out by a Spanish bank.
While the latest development comes at a time when Bitcoin ETFs’ launch has prompted the underlying asset’s price rally, Santander’s Executive President Ana Botin revealed that they were exploring the product for quite some time now.
In addition, the Spanish financial authority also asked banks about their plans to issue tokens or offer different services such as custody, trading, or payment features for crypto-assets and detail their plans until 2024.
Besides, the Spanish opposition party, the Partido Popular , had proposed a bill that would enable payments of mortgages with crypto.