21Shares AG, a Switzerland-based cryptocurrency ETP issuer, announced today that the company will launch a Bitcoin exchange-traded product (ETP) on the Aquis Exchange.
According to an official press release, UK-based institutional investors will be able to trade the Bitcoin ETP on Aquis Exchange. For the latest launch, 21Shares has collaborated with GHCO, a well-known ETF Liquidity provider.
21Shares is one of the leading cryptocurrency ETP issuers around the world. In February 2021, the Swiss firm crossed $1 billion in cryptocurrency assets under management for the first time. According to the latest data published by the company, 21Shares now has more than $1.5 billion in assets under management across 14 exchange-traded products.
Commenting on the latest announcement, Hany Rashwan, CEO of 21Shares, said: “This is the right time to bring our successful crypto ETP to the institutional UK market. Our strong track record and existing institutional reach across continental Europe means that investors can confidently gain exposure to Bitcoin via a liquid and conventional investment product.”
21Shares aims to provide UK-based institutional investors with a secure and cost-effective exposure to the world’s largest cryptocurrency. The company mentioned that the single unit of 21Shares Bitcoin ETP represents exposure to nearly 0.00035 Bitcoin entitlement.
Liquidity for Bitcoin ETP
GHCO will act as a liquidity provider for the latest Bitcoin ETP. The company has extensive experience in the ETF industry. “ETPs are a key development for investing in crypto assets as it matures as an asset class. We expect more demand for this reliable, easily accessible infrastructure with deep pools of liquidity, liquidity that we are happy to facilitate,” Dan Izzo, CEO of GHCO, said in the official announcement.
21Shares mentioned that the company is planning to expand its partnership with Aquis Exchange to increase its cryptocurrency offerings for institutional investors in the UK. The company is planning to launch ETPs of several other cryptocurrency assets including Ethereum, Ripple, Tezos, Polkadot, Cardano and Stellar.
