Based in St.Hellier, Jersey, the digital asset manager Coinshares has announced that it will be launching its own exchange-traded Bitcoin product – BITC. The news comes at a time when Bitcoin has undergone a furious upward rally over the past few months.

According to CoinShares, its physical Bitcoin product is poised to go live as of January 19th, and be listed under BITC on Switzerland's SIX Exchange. As it becomes listed, BITC will be charged as an expense ratio of 0.98% for users. While listed on the SIX Swiss Exchange, several entities, such as the Ledger-backed venture company Komainu, Nomura Holdings, and CoinShares, will serve as custodians for investors.

Much like other digital assets in its class, the BITC will function as a physically-backed asset, meaning that it tracks and holds Bitcoin BTC -0.55% Bitcoin / USD BTCUSD $ 36,361.98
-$199.99 -0.55% Volume 49.02 b Change -$199.99 Open $36,361.98 Circulating 18.6 m Market Cap 676.48 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 1 h CoinShares Poised to Launch Exchange-Traded BITC; Bitcoin Hovers Below $40k' Inflection Point' 3 h Nvidia Looks to Fire Up Its Crypto Mining GPU Production; If Demand is Good Enough 5 h Mempool & Bitcoin Fees Holding Steady as BTC Payments Hit New Highs .

In a statement on the launch of BITC, CoinShares Chief Revenue Officer Frank Spiteri shed light on consumer needs for a higher level of security and due diligence when it comes to digital assets:

“A lot of institutional clients have a very strong due-diligence process, and we wanted to bring to market a best-in-class product to embrace that demand.”

“We are ready, as of January, to embrace the forthcoming demand from institutional clients.”

Over the first quarter of 2021, Bitcoin has broken beyond the $20,000 mark in a historic breakthrough – hovering around the $36,000 mark as of the start of this week. While this figure is below the level anticipated by strategists at JPMorgan Chase & Co., they still stress that Bitcoin's inflection point sits at $40,000 – a price range that many believe BTC must push past.

For many traders, this rally came as a surprise, as it rose and slid 10% away from its record of $42,000 on January 8th.

This ebullience of Bitcoin comes with its own risks, however. If it's unable to breach the $40k mark, it could suffer from a broader exodus of investors, sending its value into a downturn. This is according to a team of analysts, including Nikolaos Panigirtzoglou. Demand for associated products, like the Grayscale Bitcoin Trust, will help ascertain the future outlook.

According to this team of analysts, if Grayscale can sustain its current pace of $100 million per day over the next weeks, a Bitcoin breakout is more likely to happen.

Investors and analysts are torn on Bitcoins trajectory; plenty remains skeptical of it and its appeal to large institutions.

Axa Investment Managers Chief Investment Officer Chris Iggo is one of many that ‘dread to think' that risk officers see Bitcoin as a key asset within a core investment portfolio.

“For assets to be considered in a long-term investment portfolio, one should be able to attach some fundamental intrinsic value to them.”

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