Exchanges

Europe’s Largest Crypto Asset Supervisor Launches Bitcoin ETP on SIX

Picture: FM

Europe’s greatest digital asset administration agency, CoinShares introduced as we speak that the corporate has launched a brand new Bitcoin exchange-traded product (ETP) on the Swiss Inventory Change, SIX. The crypto asset supervisor has launched the brand new ETP with $200 million in belongings beneath administration (AUM).

Based on the official announcement by SIX, every unit of the bodily Bitcoin ETP is backed by 0.001 BTC. The newly launched product is obtainable in 4 buying and selling currencies together with USD, CHF, EUR and GBP, with a ticker image of BITC.

CoinShares has practically $2.9 billion in crypto belongings beneath administration as the corporate has seen important demand from institutional buyers in 2020. The agency goals to embrace the forthcoming demand from institutional buyers with the launch of the newly launched Bitcoin ETP.

Commenting on the current launch, Christian Reuss, Head of SIX Swiss Change, stated: “Curiosity in Bitcoin continues to develop. Because the world’s main regulated market for merchandise with cryptocurrency underlying, SIX gives buyers essential advantages like transparency, liquidity and equal therapy. A heat welcome to CoinShares becoming a member of our ranks of Change Traded Product issuers.”

Bitcoin ETP

Finance Magnates earlier reported in regards to the launch of an exchange-traded BTC product by the ETC Group on SIX. The change has seen constant development within the variety of Bitcoin ETP points in current months. The Swiss Inventory Change now has seven ETP issuers providing a complete of twenty-two Bitcoin ETPs and structured merchandise. An institutional-grade crypto custody agency Komainu would be the custodian of the brand new Bitcoin ETP.

“CoinShares Bodily Bitcoin (BTC) (Ticker: BITC) is a physically-backed ETP secured by the underlying bitcoins. The product permits buyers to realize publicity to the worth of btc on a regulated European inventory change. The bitcoins held on behalf of BITC are maintained in custody with Komainu, a regulated institutional-grade digital asset custodian. CoinShares is a pioneer in digital asset investing having launched the world’s first regulated btc funding fund and the world’s first btc-based securities on a regulated change,” SIX talked about within the official announcement.

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