ETC Group to Record Bitcoin ETP on Cboe Europe
ETC Group Bodies Bitcoin at Cboe Europe; Lists BTCetc
The BTCetc ETC Group Physical Bitcoin (BTCE) will be listed on Cboe Europe, according to a Thursday announcement made by ETC Group, a provider of institutional-grade crypto-backed securities.
The press release states that ETC Group Physical Bitcoin will be cleared by SIX X-Clear in addition to being listed for trading on Cboe Europe BV, Cboe’s Amsterdam-based exchange. BTCE is supported by a top-tier network of Market Makers and Authorised Participants (APs) in the bitcoin and ETP markets. Because APs ensure narrow spreads and on-exchange liquidity, traders can make purchases of any amount without being concerned about how they will affect the market.
The products from ETC Group have a number of benefits over making direct cryptocurrency investments. Since ETCs are traded on regulated exchanges, investors have the same regulatory protections when trading them through banks or online brokerage platforms as they would with traditional shares. Investors can access the underlying collateral, which is held in institutional-grade custody, without the need for a digital wallet or technical expertise.
“Introducing BTCE to Cboe Europe as a flagship product makes sense, given the global recovery in demand for cryptocurrency exposure. Tim Bevan, co-CEO and founder of ETC Group, stated, “The BTCE listing on Cboe Europe further establishes ETC Group’s leadership position in European domiciled cryptocurrency-backed securities.”
According to a press statement from the platform, Fidelity Exchange Traded Products GmbH issued two new Bitcoin ETPs in US dollars and Swiss francs at SIX Swiss Exchange in March. Now that new Bitcoin ETPs have been added, investors can choose from 208 products based on 18 different digital currencies.
With Fidelity’s most recent listing on the SIX Swiss Exchange, there are now ten cryptocurrency ETP issuers. Furthermore, there are now 133 tradeable cryptocurrency ETPs. Trading in a variety of digital asset items is available on SIX Swiss Exchange.
