UK fund managers under the aegis of the Investment Association, the trade body representing Britain’s asset management industry, have called on the government and the City regulator to approve blockchain-traded funds. While the Investment Association controls as much as £10tn for clients worldwide, the entity believes that issuing tokens instead of traditional shares and fund units will have a way to enhance productivity on all sides. According to the Financial Times, the association believes that the blockchain-traded fund products, if approved, will grant end-users more cost-saving investment offerings across the…
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British investment managers call for the blockchain-traded funds’ approval
The Investment Association, a trade body representing British investment managers, is speeding up the local government and financial regulators to approve blockchain-traded funds with digital tokens substituting traditional shares. As the Financial Times reported on Thursday, the trade body is pushing the government to establish a new class of funds employing blockchain technology and create a new task force to examine how distributed ledger technology could accelerate the creation of new products and services. The reasons behind such a push, according to the Investment Association, are the possible significant cost…