French financial regulator AMF officially approved Melanion Capital\u2019s Bitcoin-linked ETF product in August. Concurrent to the United States finally launching its first Bitcoin (BTC) futures-based exchange-traded fund (ETF) Tuesday, France inches closer to a major Bitcoin-related ETF launch.Paris-based alternative investment firm Melanion Capital is preparing to launch its Bitcoin-linked ETF product already this Friday, the firm\u2019s CEO Jad Comair announced to Cointelegraph on Monday.Called \u201cMelanion BTC Equities Universe UCITS ETF,\u201d the Bitcoin ETF will start trading on France\u2019s primary stock exchange, Euronext Paris, at 7 am UTC.The product will be listed under the ticker symbol BTC FP, providing investors with Bitcoin exposure through a diversified basket of equities correlated to the daily price movements of Bitcoin."It is traded on the Paris stock exchange, therefore eligible to all investors, and we're in the process of listing it all over Europe," Comair said, adding that\u00a0there is a strong demand for Bitcoin-related products in the region. "We have embarked on a plan to bring more institutional-grade crypto products to the market," he added.According to Comair, the idea of BTC FP is\u00a0similar to a Bitcoin-linked ETF by Volt Equity, which was approved by the United States Securities and Exchange Commission (SEC) in early October. Instead of tracking Bitcoin directly, both Melanion Capital and Volt Equity\u2019s Bitcoin ETFs are tied to companies correlated with Bitcoin.\u201cThey both share the same idea: structuring a Bitcoin ETF by investing in equities holding Bitcoin, instead of going through the difficult and burdensome route of directly holding Bitcoin,\u201d the Melanion Capital CEO noted.This ETF will track the Melanion Bitcoin Exposure Index, which consists of several industry firms, including Michael Saylor\u2019s software firm MicroStrategy, crypto mining firm Argo Blockchain, Mike Novogratz\u2019s digital asset merchant bank Galaxy Digital and others.\u201cOur ETF is the first thematic Bitcoin product to be approved in Europe. ETF is a big deal, as it\u2019s the most widely used and the one eligible for various pension plans,\u201d Comair said.The executive also noted that its ETF would bridge the gap between the crypto and institutional worlds. \u201cThe investment pockets of institutional investors have a lot of constraints to protect their customers, and an ETF is one of the most eligible wrappers that matches these constraints,\u201d Comair noted.Related: Guernsey regulator approves Jacobi Asset Management\u2019s Bitcoin ETF launchIn August, French financial regulator the Autorit\u00e9 des march\u00e9s financiers\u00a0officially approved Melanion Capital\u2019s Bitcoin-linked ETF.The news comes as American ETF provider ProShares prepares to launch its Bitcoin futures-based ETF on the New York Stock Exchange on Tuesday. According to Bloomberg analyst Eric Balchunas, Valkyrie\u2019s Bitcoin futures-based ETF is likely to launch this week.