2020-9-3 13:55 |
Bitcoin ETP (Exchange-Traded Product) was recently listed on several leading stock exchanges in Europe. Specifically, the exchanges that listed it originate from Switzerland, Austria, and Germany.
The ETP is offered by 21Shares, which now offers 11 crypto exchange-traded products in total.
Bitcoin ETP finally emerges on stock exchangesThe Swiss-based firm, 21Shares, announced yesterday, September 1st, the listing of its Bitcoin ETP on several leading stock exchanges. The exchanges in question include Wiener Borse, as well as the Vienna Stock Exchange.
This represents a massive achievement for the crypto industry. as it demonstrates institutional and regulatory acceptance of digital asset class among European countries.
The company’s statement also noted that the ETPs are ‘passported into Austria and authorized for distribution for both retail and institutional investors.’
The Bitcoin ETC (ABTC) is trading in USD, CHF, EUR, and GBP on the Six Swiss Exchange, as well. It was originally admitted for trading in EUR back in July. Meanwhile, the 21Shares website notes that the product is available on Boerse Stuttgart and BX Swiss, as well.
Lastly, according to the company’s Monday announcement, its short Bitcoin ETP was also admitted to the Deutsche Boerse Xetra.
The first centrally-cleared short Bitcoin ETP in the worldCommenting on the new development, the company’s managing director, Laurent Kssis, said that the firm has lobbied vigorously with the exchange in order to launch the first centrally-cleared short Bitcoin ETP in the world, and to do so on a regulated trading venue.
The product, known as SBTC, seeks to provide a -1x return to the performance of BTC for a single day, as the announcement adds.
Right now, there is more than $100 million in total listed assets that are under management. Also, as mentioned, there are 11 varied crypto ETPs, with six of them being single-asset products, and SBTC is the only inverse ETP.
Finally, there are also four index-ETPs that include Bitcoin Suisse Index, Crypto Basket Index, Bitwise Select 10, and Sygnum Platform Winners Index.
The post Bitcoin ETP now available on several leading exchanges in Europe appeared first on Invezz.
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