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.
- 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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.