Paris-based Melanion Capital is set to launch a Ucits-compliant ETF that tracks bitcoin-related stocks.

The Melanion BTC Equities Universe Ucits ETF will track a basket of up to 30 stocks deemed to have a high correlation to bitcoin's market price, including crypto mining firms and digital asset managers.

German software firm Bina will be responsible for the weighting of the fund which will be listed on the London Stock Exchange and Deutsche Boerse.

Although the fund will not hold bitcoin directly, it is one of the few EU-regulated funds to offer investors exposure to crypto assets under the Ucits umbrella.

In May, US fund manager Van Eck launched a digital assets ETF that tracks crypto and blockchain-related stocks.

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