CoinShares launching an exchange-traded bitcoin product (ETP) on Swiss stock exchange
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CoinShares launching an exchange-traded bitcoin product (ETP) on Swiss stock exchange

By Keith Thuerk | New to Crypto's? | 19 Jan 2021


CoinShares launching an exchange-traded bitcoin product (ETP) on Swiss stock exchange

 

Who is CoinShares? Digital asset management firm CoinShares is a European digital asset investment firm.  You might recall that in June of '20 CoinShares partnered up with Ledger and Japanese bank Nomura to bring about Komainu.  Which is a digital asset custody business for institutional clients, under the leadership of Jean-Marie Mognetti.  In regard to Assets Under Management (AUM) the most recent value I could find was from Aug. '20 which showed $1BN for Crypto management. 

What is an exchange-traded bitcoin product (ETP)?  According to Investopedia - ETP's are types of securities that track underlying securities, an index, or other financial instruments. ETPs trade on exchanges similar to stocks, think of them as low cost alternatives to Mutual Funds.  Source - https://www.investopedia.com/terms/e/exchange-traded-products-etp.asp

Where will the ETP trade? The CoinShares ETP will trade on the Swiss stock exchange which is also known as SIX

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How Many Other ETP's are offered on the SIX?  BITC marks the 35th ETP offering on the SIX.

What ticker will the ETP trade under? BITC

When is the Go Live Date? January 19th '21 - hey that's today...can I borrow a Billion bucks today and I can pay you back tomorrow.

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How is the exposure to Crypto? Bitcoin ETPs provide exposure to bitcoin in a regulated asset class. In contrast to the U.S., where regulators have been loathe to sign off on bitcoin ETF applications, there are already several entities offering crypto-backed products across Europe.

How are the ETP Fees?  BITC has a 0.98% expense ratio and will be physically backed by bitcoin.

 

Summary - Euro continues to allow more ways for Citizens to gain exposure to Crypto assets.  Wondering IF these types of offerings will make it to the USA in this decade?


Keith Thuerk
Keith Thuerk

Currently learning about Crypto's and DeFi to combat the Inflationary Tidal wave coming our way!


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