CoinShares to Float Bitcoin-backed ETP on SIX Swiss Exchange

Updated on Jan 19, 2021 at 10:31 am UTC by · 3 mins read

The ETP product is set to complement CoinShares’ strategy in pushing Bitcoin into the mainstream cycle of adoption.

CoinShares, the world’s first digital asset investor to launch a regulated Bitcoin investment fund and the world’s first bitcoin-based securities on a regulated exchange is set to expand its tentacles by launching a Bitcoin-backed Exchange Traded Product (ETP) on Switzerland’s SIX Exchange. According to Bloomberg which first broke the news, the CoinShares ETP is billed to start trading on the exchange today, the 19th of January under the ticker symbol BITC.

The massive entry of Institutional investors into the Bitcoin investment world has necessitated the need for digital asset service providers to churn out enticing products and services that will endear the more conservative investors to the highly volatile crypto ecosystem. The rollout of Exchange Traded Products is one great way to achieve this and CoinShares is leveraging the receptiveness of European bourses to do this.

The ETP will be physically backed by Bitcoin at a rate of 0.001 Bitcoin which is about $37.4 at the time of writing. The ETP will charge an expense ratio of 0.98% and custody for the assets will be provided by Komainu, a venture that sprung up a mutual alliance by Ledger, Nomura Holdings Inc, and CoinShares.

“A lot of institutional clients have a very strong due-diligence process, and we wanted to bring to market a best-in-class product to embrace that demand,” said Frank Spiteri, chief revenue officer at CoinShares. “We are ready, as of January, to embrace the forthcoming demand from institutional clients.”

CoinShares ETP Launching with $200M AUM

The CoinShares ETP was off to a great start as the entity was floated with about $200 million assets under management and this kick-off figure was confirmed by CoinShares Chief Strategy Officer, Meltem Demirors.

The ETP product is set to complement CoinShares’ strategy in pushing Bitcoin into the mainstream cycle of adoption. With the price of Bitcoin winking at corporate entities, the forecast to see many more institutional investors take a position with Bitcoin this year is more likely than ever. The coin whose surge in value topped $42,000 in the past days has been favored to soar as high as $146,000 by analysts from JPMorgan Chase & Co (NYSE: JPM).

In readiness to take advantage of the avalanche of inflows from more investors across all divide, the CoinShares ETP will serve as a viable reference and goto product, both in Europe and beyond for every investor who wishes not just to gain exposure to Bitcoin, but to also benefit from the increase in the coin’s valuation over time. 

Share:

Related Articles

Bitcoin ETFs Saw $220M in Inflows Despite BlackRock’s Selloff, Trump’s Tariff War

By April 3rd, 2025

US-based spot Bitcoin exchange-traded funds recorded an impressive surge in inflows while the leading product saw $116 million in outflows amid the United States tariff war.

GameStop’s $1.5B Bet on Bitcoin Pushes GME Stock Price

By April 2nd, 2025

GameStop’s latest fundraising brought its stock to the green zone as the video game retailer wants Bitcoin exposure.

Bitcoin Price Reclaims $84,000, Here Are Key Levels to Watch

By April 1st, 2025

Bitcoin price rebounds above $84K as selling slows. Traders eye $86K resistance and $78K support for the next move.

Exit mobile version