The crypto services firm is connecting high-frequency traders who use electronic trading platforms to crypto exchanges.
It may encourage U.S. regulators to approve their first bitcoin exchange-traded fund.
The fund is structured similarly to the Grayscale Bitcoin Trust, but aims to compete with lower fees.
The digital currencies could be distributed through PayPal’s digital wallets, the company’s CEO said.
The UK will be the first place PayPal has expanded crypto products to outside of the U.S.
The stock jumped by more than 13% after news that it would let its customers buy bitcoin through its ATMs.
Charlottesville’s Blue Ridge Bank is letting cardholders purchase and redeem bitcoin at 19 ATMs.
The fund charges a 1.75% management fee and offers custody from Fidelity Digital Asset Services.
The San Francisco-based firm did not say if it would choose a direct listing.
Analysts at the largest bank in Canada noted that after PayPal and Square’s crypto offerings, the market for tech firms creating crypto wallets has already been validated.