Top performing Bitcoin exchange traded product hits $500m AuM as it lists on SIX Swiss Exchange in USD, CHF and GBP
When you trade a bitcoin ETF or ETP your capital is at risk.
- BTCetc - Bitcoin Exchange Traded Crypto - (BTCE) to
list on Switzerland’s SIX Exchange on 13th January 2021
- The ETP listed on Deutsche
Börse’s XETRA in June 2020, and in the second half of last year was the highest
traded product on its ETN segment[1]
- BTCE, now has amassed
over $500 million in assets under management in just seven months
- BTCE to list in US
Dollars, British Pounds and Swiss Francs
- The ETP delivers physical
Bitcoin exposure with the security, safety, and liquidity of an exchange traded
product
- ETC Group´s BTCE is
distributed on the HANetf platform alongside its existing range of innovative
ETFs & ETPs
11th
January 2021, London
ETC Group has
announced that its rapidly growing Bitcoin ETC, BTCetc BitcoinExchange Traded Crypto - (BTCE), which last week reached $500m assets under
management (AuM),[2] will
list on the Swiss stock exchange, SIX, on Wednesday 13th January
2021. This will be the ETP’s second listing, after it listed on Deutsche
Börse’s XETRA platform in June 2020, where it has been the most traded product
on its ETN segment[1]. The BTCE listing will trade in three
currencies: US Dollars (USD), Swiss Francs (CHF) and British Pounds (GBP) on
SIX.
The exchange
traded cryptocurrency (ETC), which is available on HANetf’s white label ETP
platform, is 100% physically backed, providing investors with a safe and
transparent way to gain exposure to Bitcoin. The listing on SIX will be its
second to date.
BTCE gives
investors several benefits over investing directly in Bitcoin. Traded on
regulated markets, investors can buy and sell the bitcoin ETF in the same way they
would when trading conventional shares or ETPs. BTCE is structured as an ETC
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, institutional-grade
safe custody. The entire ETC structure is based on a transparent and verifiable
process to ensure that the provenance of all Bitcoin in custody has been
strictly vetted.
Investors aren’t
required to engage with the technical challenges of purchasing and storing Bitcoin
such as setting up a cryptocurrency wallet or trading on unregulated crypto exchanges
and there is no need to manage cryptographic keys or engage with blockchain
technology. Units of BTCE are safely held with the investor’s securities broker
or bank, thus removing the risk of losing the investment because of, for
instance, lack of knowledge of how cryptographic keys work. Bitcoin is a
highly volatile product and when you trade a bitcoin ETF or ETP your capital is at risk.
BTCE is
supported by a network of world
class Authorised Participants (APs) and Market Makers, experienced in
cryptocurrency markets as well as the ETP markets. The APs ensure on-exchange
liquidity and tight spreads, enabling traders to purchase in all sizes without
having to worry about market impact.
Bradley Duke, CEO of ETC Group said: “BTCE enjoyed
incredible growth in 2020, with the value of bitcoin increasing by 316%[3]. Past
performance is no guarantee of future performance. BTCetc BitcoinExchange Traded Crypto - (BTCE) brings to the world of Bitcoin the
transparency and investor protection that regulators and institutional investors
require, and we are very excited to be listing in Switzerland, which is one of
the most advanced markets for digital and crypto assets anywhere in the world.”
“Investors
are adding Bitcoin to their portfolios because of concerns around the devaluation
of major currencies related to governments funding COVID financial rescue
packages through increased money supply. BTCE tracks the price of Bitcoin very
closely and is highly liquid and trades with very tight spreads making it the
vehicle of choice for many investors to gain exposure to physical Bitcoin.”
Hector
McNeil, co-Founder and co-CEO at HANetf, said: “BTCE has seen some of
the strongest growth of any ETP in the world, and listing on SIX will only
strengthen this further. Bitcoin has
crashed through the psychologically important valuation barrier of $40,000, and
long-term we expect this to be one of the best performing assets.”
Investors can
purchase BTCE through their regular broker or bank with access to SIX, and
individuals or institutions wanting to exchange their bitcoin holdings directly
for the product can do so via the network of Authorised Participants of the
Issuer. As well as now being listed on SIX
and XETRA, BTCE is also passported to several countries across Europe. As with
all exchange traded products, an investor’s capital is at risk.