BTCetc Exchange Traded Bitcoin (BTCE) reaches $90million AUM in less than five months since launch
- Our Bitcoin ETC reaches $90
million AUM after launching in June 2020
- BTCE is an exchange
traded Bitcoin product on Xetra and tracks the price of Bitcoin
November 4th, London
BTCetcBitcoin Exchange Traded Crypto (ticker BTCE) has reached $90million assets[1]
under management (AuM) since it listed on Deutche Boerse’s Xetra in late June
2020.
The exchange traded
cryptocurrency tracks the price of Bitcoin and is 100% physically backed,
providing investors with a safer and transparent way to gain exposure to
Bitcoin. Our Bitcoin ETC was the world’s first
central counterparty cleared Bitcoin exchange traded product[2]
It is distributed and marketed by
HANetf.
Bradley Duke, CEO of ETC Group
“We worked really hard to engineer a product that provides investors with a
safer and more transparent way to gain exposure to Bitcoin. By reaching the $90
million AUM milestone in just over four months, we feel that the investment
community has recognised the quality of BTCE’s investor protections and trading
experience which has resulted in over 1 million shares of BTCE being traded in
a single day on Deutsche Borses’s Xetra[3].
Investors also like the optionality of being able to redeem BTCE for actual
Bitcoin if they so choose.
On why Bitcoin is striking
a chord with investors right now, Bradley said “Bitcoin is
increasingly being viewed as a safe haven asset, especially in times of
unprecedent expansion of the money supply in major currencies like the US
dollar and Euro in order to fund the massive stimulus packages being approved
by governments to assist economies hit hard by COVID-19. Bitcoin is being
correctly seen as hard currency with capped supply. BTCE gives investors access
to Bitcoin on a regulated exchange without the headaches of needing to find and
maintain secure storage for Bitcoin as BTCE securities are stored safely in the
investors brokerage account. BTCE
follows other ETFs such as DAX or Eurostoxx 50 that have made it easier for
investors to trade certain asset classes with an institutional standard
product.
When you trade exchange
traded Bitcoin your capital is at risk.
Approved by BaFin, the German
financial regulator, BTCE is structured as an exchange traded product (ETP)
that is physically backed by Bitcoin. Each unit of our Bitcoin ETC gives the holder a
claim on a predefined amount of Bitcoin - a structure very similar to
physically-backed gold exchange traded commodities, and allows investors the
option for redemption in Bitcoin. For
every unit of BTCE, there is Bitcoin stored in regulated, institutional-grade
safe custody. The entire ETP structure is based on a transparent and verifiable
process to ensure that the provenance of all Bitcoin in custody has been
strictly vetted.