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Another Bitcoin ETP Launches On SIX Swiss Exchange

Coinshares, a pioneer in operating regulated bitcoin investment fund with about US$4 billion of asset under management, will be launching an Exchange Traded Product for bitcoin on SIX Swiss Exchange. It will trade under the ticker BITC on January 19, 2021.

“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,” said Frank Spiteri, chief revenue officer at CoinShares. “We are ready, as of January, to embrace the forthcoming demand from institutional clients.”

The new Bitcoin ETP will be physically backed at a ratio of 1 unit to 0.001 bitcoin. With more regulated vehicles like this, institutional clients will have more choices to participate in the current cryptocurrencies market.

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