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.

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