ETC Group to List First Bitcoin ETP in London on the Aquis Exchange

This is the first cryptocurrency ETP to be made available for trading on the U.K. market.

Jun 1, 2021 at 1:30 p.m. UTC
Updated Sep 14, 2021 at 1:04 p.m. UTC

ETC Group is launching the first bitcoin exchange-traded product (ETP) in the U.K. on the Aquis Exchange Multilateral Trading Facility (MTF) in London on June 7.

  • In an announcement Monday, ETC Group said this is the first time a cryptocurrency ETP will be made available for trading on the U.K. market or any European MTF.
  • Trading of the ETP will take place in four different currencies, GBP, CHF, euro, and U.S. dollar. The clearing will be carried out by Switzerland-based central counterparty clearing house SIX x-clear.
  • So far, the U.K. has been taking a cautious approach to approving crypto products. In January the Financial Conduct Authority banned the sale of derivatives and exchange-traded notes describing the products to be ill-suited for retail consumers due to the potential harm they pose.
  • Earlier today ETC Group listed two exchange-traded commodities, the BTCetc – ETC Group Physical Bitcoin and the ETHetc – ETC Group Physical Ethereum on the Euronext stock exchanges in Paris and Amsterdam.
  • The firm said it has seen investors include exposure to crypto ETPs in their portfolios as a hedge against inflation.
  • “ETC Group provides exposure to bitcoin, ether, and litecoin through our 100% physically backed cryptocurrency ETPs, and bringing our flagship bitcoin product to Aquis Exchange was a logical step as institutional demand for exposure to crypto grows around the world,” said Bradley Duke, CEO of ETC Group.
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