- BTCE allows investors to gain exposure to Bitcoin without taking self-custody, and trades on regulated European stock exchanges rather than cryptocurrency exchanges.
- BTCE has since accumulated 16,257 BTC, corresponding to $429 million of assets under management (AUM) [1]
June 2023, London
HANetf, Europe’s first and only independent white-label UCITS ETF and ETC platform, and leading provider of digital asset ETPs, is delighted to announce that ETC Group Physical Bitcoin (BTCE) has passed its third anniversary, having listed on Deutsche Börse XETRA in June 2020. [2]
Launched by ETC Group, a leading European provider of innovative, digital asset-backed securities, BTCE was the world’s first centrally cleared Bitcoin exchange traded product.
It is 100% physically backed by Bitcoin, allowing for exposure to the world’s largest digital asset by market cap without the need for self-custody.
Since 2020, it has grown to become the world's largest physical Bitcoin ETP with $429 million of assets under management (AUM), corresponding to roughly 16,257 BTC as of 19 June.
BTCE trades on regulated European exchanges such as XETRA, Euronext, and SIX, which means that investors can trade with confidence knowing that all market participants are strictly vetted and carefully monitored to prevent market abuse—unlike cryptocurrency exchanges, many of which are still unregulated platforms.
The total trading volume of BTCE on its main listing venue, Deutsche Börse XETRA, has surpassed $13.8 billion since its inception. Back when BTCE launched, Bitcoin’s price was around $9,300, while today it stands at approximately $26,000. The increase of around 180% demonstrates Bitcoin’s unprecedented performance as an asset class in recent years.
Volatile by nature, the most popular cryptocurrency has soared to record-breaking highs of over $ $68,000 but also experienced lows during the so-called “Crypto Winter” that plagued much of last year.
So far in 2023, Bitcoin is up by about 60%, partly driven by distrust in the mainstream banking system—there are many who believe that the coin is a form of “digital gold”, a store of value and a hedge against inflation and economic turmoil.
For illustrative purposes only.
Hector McNeil, Co-CEO and Co-Founder of HANetf, comments: “We are delighted to be celebrating the third anniversary of ETC Group Physical Bitcoin (BTCE). The ground-breaking ETC was the first digital asset product to launch on XETRA, bringing a cryptocurrency previously held back by concerns about complexity, accessibility, and governance, to the mainstream financial markets.
“Partnering with ETC Group has allowed us to launch a whole suite of new and exciting digital asset ETPs since BTCE, including XETRA’s first Ethereum ETC. We are proud to continue supporting ETC Group as they continue to innovate and bring exciting products to market.”
Bradley Duke, Founder and co-CEO of ETC Group, comments: “When we launched BTCE in June 2020, the company ethos was to provide a safer, better way to invest in crypto - a physically backed product, trading on a major regulated exchange with best-in-class structuring and liquidity. 3 years on, those values still resonate and are probably even more important. Our products have become more sophisticated since then but the values and quality remains the same.”
Cryptocurrencies are highly volatile. Past performance is not indicative of future performance and when you trade ETFs and ETCs, your capital is at risk.