BTCetc Bitcoin ETP Adds Leading ETP Liquidity Providers
ETC Group adds to extensive liquidity network with appointment of ETP and cryptocurrency specialists for BTCE;
Group’s superior product and liquidity strategy already paying dividends with
over $53 million of organic AUM growth since launch.
8th August, 2020, London
ETC Group have confirmed that it has signed a
raft of Authorised Participants to support the liquidity of BTCetc Bitcoin Exchange Traded Crypto (ticker:
BTCE). The Bitcoin ETC was launched in June 2020,
becoming the first exchange traded cryptocurrency product to list on XETRA.
BTCE tracks the price of Bitcoin and is 100%
physically backed by Bitcoin. Our Bitcoin ETC provides investors with a straightforward
and safe way to gain exposure to the largest and most widely adopted
cryptocurrency. It is also the first centrally cleared cryptocurrency product
issued worldwide. BTCE is issued by ETC Group and distributed via
HANetf, Europe’s first independent white-label ETF and ETC platform.
XTX Markets, Flow Traders and Jane Street are actively making
markets on XETRA to bring liquidity, tight trading spreads and execution
efficiencies for BTCE - enabling traders to purchase in all sizes without
having to worry about market impact. In addition to this, ITI Capital has been signed up to act as Authorized Participants, providing creation
and redemption services for investors. ETC Group and HANetf are committed to
bringing a first-class group of liquidity providers to ensure our Bitcoin ETC has the
deepest liquidity available.
This focus on liquidity provision is already seeing results –since
the launch of BTCE on Xetra on 18th June, BTCE AUM has grown to $53 million.
Bradley Duke, CEO of ETC Group, commented: “The listing of BTCE on
XETRA, and the calibre of the Authorized Participants we’ve assembled shows how
Bitcoin has grown up to become a significant and serious institutional asset. Our
goal is to centralise fragmented Bitcoin liquidity on XETRA, by bringing a
robust and time-tested product structure to this new asset class along with the
same regulatory protections of buying any other listed security. We expect to add
to this already impressive line-up over time to further improve the trading
experience for investors.”
Michael Lie, Head of Digital Assets, Flow Traders said “We are delighted to extend our strong working relationship
with HANetf alongside ETC Group on the launch of Europe’s first centrally
cleared Bitcoin ETC on XETRA. We feel this is a positive step for the
Digital Asset space bringing the asset class to the wider European
markets. As Designated Sponsor on XETRA we are able to combine our
digital asset expertise with our first class ETP market making capabilities
bringing unrivalled liquidity to this asset class.”
ITI Capital, an FCA-regulated prime broker, has deep
understanding of the crypto-market thanks to its dedicated digital assets arm
ITI Digital. As such, in its role as Authorised Participant, ITI can service
clients who wish to purchase OTC blocks of BTCE using either bitcoin or fiat
currencies like USD, EUR or GBP and can also deliver bitcoin to BTCE holders
wishing to redeem, in addition to providing BTCE securities lending.
Bitcoin is a volatile product and each
investor should consider the risks carefully.
Past performance is no guarantee of future performance. As with all exchange traded products, an
investor’s capital is at risk.
Investors can purchase BTCE through their
regular broker or bank with access to XETRA or other popular German exchanges,
and individuals or institutions wanting to exchange their Bitcoin holdings
directly for the product can do so via the network of client-facing Authorised
Participants of the Issuer.
||BTCetc Bitcoin Exchange Traded Crypto - (BTCE)
||1 BTCE = 0.001 Bitcoin (less fees)
||100% backed by Bitcoin
||BitGo Trust Company
||Bitcoin or cash
|Total Expense Ration (TER)
||2.00% per annum
||Deutsche Börse XETRA
ETC’s are a highly volatile digital asset and
performance is unpredictable. Past
performance is not a reliable indicator of future performance. The price of the
ETC may vary and does not offer a fixed income. The value of any investment may
be affected by exchange rate and underlying price movements.