Former Citigroup executives have initiated a groundbreaking venture aimed at introducing a new investment avenue for Bitcoin. This pioneering move seeks to provide institutional investors with access to Bitcoin-backed securities without requiring approval from U.S. regulatory bodies.

Introduction of Bitcoin Depositary Receipts (BTC DRs)

The brainchild of these former Citigroup leaders materialized in the form of Receipts Depositary Corporation (RDC). RDC’s creation, known as Bitcoin Depositary Receipts (BTC DRs), echoes the structure of American Depositary Receipts (ADRs) representing foreign stocks. Institutions will have access to the ‘BTC DRs,’ which undergo…

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