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BTCetc Exchange Traded Bitcoin (BTCE) passes $160 million AUM and is the world’s most liquid 100% physically backed Bitcoin ETP

 

  • BTCE is an exchange traded product (ETP) on XETRA and closely tracks the price of bitcoin
  • Our Bitcoin ETF has surpassed $160 million AUM after launching in June 2020
  • BTCE is the most liquid 100% physically backed bitcoin ETP in the world with the highest average daily volumes

 

25th November 2020, London

Since listing on Deutche Boerse’s Xetra in late June 2020, BTCetc Bitcoin Exchange Traded Crypto (ticker BTCE) has become the most liquid 100% physically backed bitcoin ETP[1]  in the world with a record trading volume day on 18 November of over 2 million units or USD$36million[2]. Our Bitcoin ETF has already surpassed USD$160million assets[3] under management (AuM) and has the highest turnover of all listings on XETRA’s ETN Segment for October 2020 and November to date[4]. 

BTCE tracks the price of bitcoin very closely and does not trade at a large premium. This is because our Bitcoin ETF can be easily converted into bitcoin and so it naturally tracks the price of the underlying asset very closely.

In the last 30 days Bid-Ask spreads averaged just 12.1bps[5] and is often lower than 5bp[6]. High on-exchange liquidity and tight spreads are important to investors because it greatly reduces market impact when trading in size. This improves overall trading performance which means better investment returns.

BTCE tracks the price of Bitcoin and is 100% physically backed, providing investors with safe and transparent way to gain exposure to Bitcoin.  BTCE was also the world’s first central counterparty cleared bitcoin ETP6.  It is UCITS eligible and is distributed and marketed by HANetf.

Bradley Duke, CEO of ETC Group “With BTCE, our mission was always to bring investors a better way to invest in Bitcoin. We wanted a product that would trade on a major exchange, was highly liquid, tracked the price of bitcoin accurately, was fully fungible with bitcoin and was engineered with investor security front and centre. We are proud of what we have achieved with BTCE and the high trading volumes and spectacular rise in AUM means the investment community is recognising BTCE as the best in class product for investment in bitcoin.”

Maximilian Monteleone, Head of Business Development at ETC Group added “By bringing the trading of bitcoin onto one of the top stock exchanges in Europe, investors don’t have to worry about the real risks associated with trading bitcoin on unregulated markets or, more importantly, the dangers associated with transferring and storing bitcoin themselves. BTCE trades just like a stock and is safely held in the investor’s securities account at their regulated broker or bank.”

When you trade Bitcoin ETFs and ETPs 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 BTCE 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, insured, 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. BTCE is UCITS eligible.

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