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CoinShares to Launch a Bitcoin ETP on SIX Swiss Exchange
Exchange

CoinShares to Launch a Bitcoin ETP on SIX Swiss Exchange

Digital asset management firm CoinShares announced Monday that it’s launching an exchange-traded bitcoin product (ETP) on Swiss stock exchange SIX. It joins several other ETP providers on the exchange, including ETC Group, with its own physically backed bitcoin product.

  • ETC Group was the 34th ETP provider on the exchange, making CoinShares the 35th.
  • On Jan. 19, The ETP will go live and will be listed under the ticker BITC.
  • Bitcoin ETPs provide exposure to bitcoin in a regulated asset class.
  • The product’s assets will be custodied by Komainu, a venture which launched about a year ago, involving Nomura Holdings, CoinShares and Ledger.
  • BITC will charge a 0.98% expense ratio and will be physically backed by bitcoin.
  • Digital asset-backed securities developer ETC Group announced that it would list a physically backed bitcoin ETP on SIX.

<Source: Coindesk>

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