BTCetc Exchange Traded Bitcoin (BTCE) has $100m + record trading day as Bitcoin price surpasses $30,000
- BTCE is an exchange
traded product (ETP) on XETRA and closely tracks the price of bitcoin
- BTCE, our Bitcoin ETF, has
surpassed $375 million AUM after launching in June 2020
5th January 2021, London
BTCetcBitcoin Exchange Traded Crypto (ticker BTCE) had a record trading day
yesterday with trading volume of over USD$100m[1]. This comes after a previous record high of
$54million on the 17th December[2]. BTCE has also surpassed USD$375 million
assets[3]
under management (AuM).
Maximilian Monteleone, Head of
Business Development at ETC Group said: “Bitcoin has seen phenomenal
interest as the price has increased from $20,000 in mid-December to $31,000
yesterday[4]. Investors seem to be moving into
bitcoin because of concerns around major currency devaluation as a result of
massive stimulus packages being tabled by governments in response to the COVID
crisis.
BTCE is an exchange traded
cryptocurrency on Deutsche Boerse, and with that investors do not have to worry
about the risks of trading Bitcoin on unregulated crypto exchanges or handling
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.”
Bitcoin can be a highly volatile
product. When you trade a Bitcoin ETF and Bitcoin ETP your capital is at risk.
BTCE tracks the price of Bitcoin
and is 100% physically backed, providing investors with a safer and transparent
way to gain exposure to Bitcoin. The
10-day average spread of BTCE is 11 basis points[5]. BTCE was also the world’s first central
counterparty cleared bitcoin ETP[6]. The Bitcoin ETF is UCITS eligible and is distributed and
marketed by HANetf.
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.