Swiss Firm Launches 'No-Fee' Bitcoin Exchange-Traded Product on Nordic Growth Market

Swiss-based Valour says its bitcoin ETP is the first with no management fees.

Dec 3, 2020 at 10:50 a.m. UTC
Updated Sep 14, 2021 at 10:37 a.m. UTC

Switzerland-based Valour has launched what it claims is the first bitcoin exchange-traded product (ETP) without any management fees.

  • Listed on the Stockholm-based Nordic Growth Market, the Bitcoin Zero ETP brings investors exposure to bitcoin in a similar way to exchange-traded funds and shares, Valour said in an announcement.
  • While trading and owning the investment product will not incur management fees, the firm said it will incur "investors' usual brokerage fees."
  • The ETP structure is a type of security with a value derived from other investment vehicles – such as currencies, commodities or, in this case, bitcoin – to which it is benchmarked.
  • "The launch of the Bitcoin Zero ETP ... marks a significant step towards the mainstream adoption of digital assets, enabling investors to diversify their portfolios and gain exposure to bitcoin, whose value has almost tripled this year," said Johan Wattenström, Valour's founder and director.
  • Europe has seen a number of crypto ETP listings. Earlier this year, 21Shares, a Swiss-based product provider formerly known as Amun, launched a new bitcoin ETP on Xetra, Deutsche Boerse’s electronic trading venue.
  • Another launched in October 2019, also from 21Shares, used Binance’s native token BNB as the underlying asset.

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