Europe’s Largest Crypto Asset Manager Launches Bitcoin ETP on SIX

Europe’s biggest digital asset management firm, CoinShares announced today that the company has launched a new Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded product (ETP) on the Swiss Stock Exchange, SIX. The crypto asset manager has introduced the new ETP with $200 million in assets under management (AUM).

According to the official announcement by SIX, each unit of the physical Bitcoin ETP is backed by 0.001 BTC. The newly launched product is available in four trading currencies including USD, CHF, EUR and GBP, with a ticker symbol of BITC.

CoinShares has nearly $2.9 billion in crypto assets under management as the company has seen significant demand from institutional investors in 2020. The firm aims to embrace the forthcoming demand from institutional investors with the launch of the newly launched Bitcoin ETP.

Commenting on the recent launch, Christian Reuss, Head of SIX Swiss Exchange, said: “Interest in Bitcoin continues to grow. As the world’s leading regulated marketplace for products with cryptocurrency underlying, SIX offers investors crucial benefits like transparency, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and equal treatment. A warm welcome to CoinShares joining our ranks of Exchange Traded Product issuers.”

Bitcoin ETP

Finance Magnates earlier reported about the launch of an exchange-traded BTC product by the ETC Group on SIX. The exchange has seen consistent growth in the number of Bitcoin ETP issues in recent months. The Swiss Stock Exchange now has seven ETP issuers offering a total of 22 Bitcoin ETPs and structured products. An institutional-grade crypto custody firm Komainu will be the custodian of the new Bitcoin ETP.

“CoinShares Physical Bitcoin (BTC) (Ticker: BITC) is a physically-backed ETP secured by the underlying bitcoins. The product enables investors to gain exposure to the price of btc on a regulated European stock exchange. The bitcoins held on behalf of BITC are maintained in custody with Komainu, a regulated institutional-grade digital asset custodian. CoinShares is a pioneer in digital asset investing having launched the world’s first regulated btc investment fund and the world’s first btc-based securities on a regulated exchange,” SIX mentioned in the official announcement.