Invesco cross-lists bitcoin ETP on SIX

Jan 21st, 2022 | By | Category: Alternatives / Multi-Asset

Invesco has cross-listed its directly backed bitcoin exchange-traded product into the Swiss market.

Invesco cross-lists directly backed bitcoin ETP on SIX

Invesco is the ninth crypto ETP issuer to list on SIX Swiss Exchange.

The Invesco Physical Bitcoin ETP is available to trade on SIX Swiss Exchange in US dollars under the ticker BTIC SW.

The ETP, Invesco’s first to offer direct cryptocurrency access, made its debut on Xetra in euros (BTIC GY) in November 2021.

The ETP tracks price movements in the world’s largest cryptocurrency by following the CoinShares Bitcoin-Reference Rate (4pm Fix).

Every ETP share is 100% collateralized with actual bitcoin holdings that are stored using institutional-grade custody solutions provided by Zodia Custody, a UK-based digital asset custodian who is registered with the FCA under the UK’s Anti-Money Laundering Regulations.

The ETP comes with a fixed annual fee of 0.99% and has accumulated $130 million in assets since launch.

Following the listing, there are now nine crypto ETP issuers on SIX, collectively offering 108 crypto ETPs across multiple currency lines.

According to SIX, trading turnover in crypto-focused securities, including ETPs and structured products, on the exchange surpassed CHF 8.6 billion (approx. $9.4bn) in 2021, more than seven times the previous year’s figure of CHF 1.1bn.

Five of the top ten crypto products by trading turnover were based on bitcoin with investors showing a clear preference for collateralized ETPs.

Christian Reuss, Head of SIX Swiss Exchange, commented: “Trading in passive cryptocurrency products is enjoying growing popularity among institutional and private investors. Structured products and ETPs offer a convenient and well-established investment process to do so.

“We are proud to have more than 50 products on bitcoin on our platform as well as listed products on an additional 16 cryptocurrencies. A warm welcome to Invesco Digital Markets joining our issuer ranks and further expanding the product range.”

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