New Bitcoin ETP Launches on Swiss Stock Exchange SIX
The BTCetc bitcoin ETP (BTCE) tracks the price of bitcoin and is physically backed.
Jan 13, 2021 at 1:36 p.m. UTCUpdated Aug 19, 2021 at 6:36 a.m. UTC
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A new bitcoin exchange-traded product (ETP) from ETC Group has listed on Swiss stock exchange SIX.
- Announced Wednesday, the BTCetc bitcoin ETP (BTCE) tracks the price of bitcoin and is physically backed, meaning ETC Group actually holds the underlying cryptocurrency.
- ETC Group develops digital asset-backed securities and has two London-based regulated brokers.
- BTCE is marketed and distributed by HANetf, an independent provider of UCITS exchange-traded funds.
- This latest addition to the SIX exchange takes the number of ETP providers to six and the number of ETPs listed to 34, SIX said.
- “With the new product, investors gain access to 100 different crypto products trading on our platform and with this have even more opportunities to diversify their portfolio,” according to Christian Reuss, head of markets at SIX Swiss Exchange.
- The exchange further reported that turnover in cryptocurrency products reached CHF 1.1 billion ($1.24 billion) in 2020.
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