Since 6 May, an ETF from Melanion Capital is tradable on Xetra. We spoke with Ghali Laraqui, Executive Director at Melanion Capital, about the new listing on Xetra.

You recently had your products listed on Xetra. Why did you choose Xetra?

The listing of our ETF on Deutsche Börse Xetra marks a pivotal moment for Melanion Capital's expansion strategy. As one of Europe’s leading exchange platforms, Xetra offers unparalleled visibility and access to the German and wider European investor base. Given the increasing demand for regulated Bitcoin-related investment solutions in Germany, we saw this as a key opportunity to make our ETF accessible to a more diversified pool of institutional and retail investors looking to gain exposure to the Bitcoin ecosystem in a compliant and transparent manner.

What characterises your newly listed products? What distinguishes them from other ETF issuers?

Our ETF, the Melanion Bitcoin Equities UCITS ETF (MBTC GY), is the world’s first UCITS-compliant ETF offering exposure to the Bitcoin ecosystem via equities. What sets it apart is its unique construction: the ETF tracks the Melanion Bitcoin Exposure Index, which consists of 30 listed companies in Europe and North America selected for their high correlation to Bitcoin’s price movements. Unlike many other offerings in the market, our ETF does not invest directly in Bitcoin or crypto-assets, making it suitable for investors seeking Bitcoin exposure within a fully regulated UCITS framework.

What major trends do you think will characterise the ETF landscape over the next few years?

The ETF space is entering a new phase where innovation is taking center stage. We’re moving beyond traditional exposures like the S&P 500 or MSCI World, and even beyond broad thematic investing. The focus now is shifting toward more niche and targeted strategies, ETFs that offer precise exposure to high-conviction ideas and underrepresented segments of the market. At the same time, we’re seeing a growing interest in actively managed ETFs, as investors look for alpha generation within the ETF wrapper. These trends reflect a maturing investor base that values flexibility, transparency, and innovative access to differentiated investment strategies. At Melanion, we’re proud to be at the forefront of this evolution by offering cutting-edge, rule-based exposure to the Bitcoin ecosystem within a regulated UCITS framework and continuing with a broader pipeline of forward-thinking initiatives.

Thank you for the interview!