Swiss crypto manager FiCAS AG on Tuesday unveiled what it called the first actively managed bitcoin exchange-traded product (ETP).
- FiCAS AG Chairman Mattia Rattaggi told CoinDesk his firm will manage a Bitcoin Capital Active ETP's portfolio of up to 15 altcoins as determined by market capitalization, liquidity and the rules of its host exchange, the SIX Swiss Exchange.
- Product managers will trade bitcoin against ETH, XRP, BCH, LTC, BNB, EOS, ADA, XLM, XTZ, TRX and exit to Swiss francs, euros and U.S. dollars, according to a July 13 prospectus. Rattaggi said the list could shift based on coin performance.
- Privacy coins will not be allowed in the basket, the prospectus said.
- Bitcoin Capital AG is issuing the ETP.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.