Bitcoin ETP Trading at Levels Seen by Top European ETFs: FT

Only one major ETF was trading at volumes slightly higher than the BTCetc ETP in the first 11 days of January, says the FT.

AccessTimeIconJan 15, 2021 at 11:01 a.m. UTC
Updated Sep 14, 2021 at 10:57 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A bitcoin exchange-traded product (ETP) from ETC Group has recently been trading at volumes normally seen by the most popular European exchange-traded funds (ETFs).

  • Data shared by Deutsche Börse showed that, in the first 11 days of January, the average daily order book turnover for the BTCetc ETP (BTCE) reached €57 million ($69 million), reports the Financial Times on Friday.
  • The most highly traded exchange-traded product on the stock exchange – the iShares Global Clean Energy Ucits ETF (INRG) – was ahead of the BTCE by only €1 million ($1.2 million).
  • The bitcoin product, first listed last June, was trading with volumes far above all the other 1,800 ETPs listed on the German bourse.
  • The structure of the bitcoin ETP has “increased the appeal of cryptocurrency investments for institutional investors,” who can trade the digital asset without having to go through the complexities of directly owning the digital assets, Stephan Kraus, head of Deutsche Börse’s ETF segment, told the FT.
  • On Wednesday, the same bitcoin ETP was listed on Swiss stock exchange SIX, further expanding its reach.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


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.