New Bitcoin ETP Launches on Swiss Stock Exchange SIX

The BTCetc bitcoin ETP (BTCE) tracks the price of bitcoin and is physically backed.

AccessTimeIconJan 13, 2021 at 1:36 p.m. UTC
Updated Sep 14, 2021 at 10:55 a.m. UTC

A new bitcoin exchange-traded product (ETP) from ETC Group has listed on Swiss stock exchange SIX. 

  • Announced Wednesday, the BTCetc bitcoin ETP (BTCE) tracks the price of bitcoin and is physically backed, meaning ETC Group actually holds the underlying cryptocurrency.
  • ETC Group develops digital asset-backed securities and has two London-based regulated brokers.
  • BTCE is marketed and distributed by HANetf, an independent provider of UCITS exchange-traded funds.
  • This latest addition to the SIX exchange takes the number of ETP providers to six and the number of ETPs listed to 34, SIX said.
  • “With the new product, investors gain access to 100 different crypto products trading on our platform and with this have even more opportunities to diversify their portfolio,” according to Christian Reuss, head of markets at SIX Swiss Exchange.
  • The exchange further reported that turnover in cryptocurrency products reached CHF 1.1 billion ($1.24 billion) in 2020.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about