ETC Group and HANetf to cross-list blockbuster bitcoin ETP in Switzerland

Jan 11th, 2021 | By | Category: Alternatives / Multi-Asset

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ETC Group and HANetf have announced that the BTCetc Bitcoin Exchange Traded Crypto is to list in Zurich on SIX Swiss Exchange.

ETC Group and HANetf to cross-list blockbuster BTCetc Bitcoin Exchange Traded Crypto BTCE bitcoin ETF on SIX Swiss Exchange

The popular BTCetc Bitcoin Exchange Traded Crypto is set to list on SIX Swiss Exchange.

This will be the ETP’s second listing after it debuted on Deutsche Börse’s Xetra platform with ticker BTCE GY in June 2020.

The Swiss listing will be available to trade in three currencies: US dollars (USD), Swiss francs (CHF), and pound sterling (GBP).

BTCE is 100% physically backed and provides investors with a secure and transparent way to gain exposure to the largest cryptocurrency by market capitalization.

The product offers several potential advantages over investing directly in bitcoin. These include being traded on transparent, regulated markets; enabling investors to effectively contract-out the technical challenges of purchasing and storing bitcoin, and imparting an additional layer of liquidity in the form of on-exchange trading.

BTCE has fast become the go-to market-access tool for European ETP investors seeking bitcoin exposure with assets under management recently touching $500 million in intraday trading. This is despite the product commanding an annual fee of 2%, making it one of the most expensive exchange-traded products in Europe.

Commenting on the new listing, Bradley Duke, CEO of ETC Group, said: “BTCetc Bitcoin Exchange 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, added: “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.”

BTCE will compete in Switzerland against other SIX Swiss-listed bitcoin products including the $239m WisdomTree Bitcoin (BTCW SW) and the $200m 21Shares Bitcoin ETP (ABTC SW). These products charge 0.95% and 1.49% respectively.

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