In March 2018, 21st Century Fox Inc. announced their intention to launch a bitcoin exchange-traded product (ETP) for institutional investors. Although there are several ETPs (including Bitcoin Investment Trust) already being traded, this will be the first one specifically designed for institutional investors. This is fairly significant because it will make it easier for institutions to invest in bitcoin.
21 Shares is a leading European digital services company and an expert on digital currencies. One of its key strategic developments is the 21Shares Bitcoin Exchange-Traded Product (ETP), which will be launched in London in partnership with a prominent UK investment bank. The purpose of the new product is to provide an alternative to more traditional investment products for institutional investors in the cryptocurrency market.
21Shares, the London-based hedge fund manager has announced a new fund that will invest in Bitcoin-related companies for institutional investors. The first of these companies is a platform called CoinShares which plans to launch the Bitcoin Exchange Traded Product (ETP) in the UK in July 2016.Swiss company 21shares has announced that it will offer its cryptocurrency exchange-traded product (ETP) to institutional investors in the UK. The platform said it wanted to offer UK investors the ability to receive bitcoin without having to deal with the storage and security of cryptocurrencies.
A new bitcoin ETP offered on the London exchange Aquis
The 21shares bitcoin ETP (ABTC) will be available through a partnership with GHCO, a leading market maker and liquidity provider specializing in exchange traded funds (ETFs). It will be listed on the Aquis Exchange, a multilateral trading facility in London and Paris. The exchange offers share trading on 15 European markets. The ETP is designed as an ETF and is centrally cleared, 21shares said Monday in a press release. As ETPs are traded on exchanges in a similar way to shares, UK institutional investors will be faced with a regulated framework and structure to which they are already accustomed. The Swiss company further explained: The ETP is designed to provide UK institutional investors with reliable and cost-effective access to bitcoin without the associated storage and security issues.
The launch ofin the UK follows the debut ofon Euronext in Paris and Amsterdam.
The Bitcoin ETP will be offered in the UK this summer, following a successful launch on Euronext in Paris and Amsterdam on 1. June, 21shares said. One ETP unit represents an exposure of about 0.00035 bitcoin, the cryptocurrency company added. The company’s CEO, Hani Rashwan, said: This is the perfect time to introduce our cryptocurrency ETP to the UK institutional market. Our strong track record and existing institutional coverage in continental Europe means investors have secure access to bitcoin through a liquid, traditional investment product. Institutional investors will have access to significant liquidity provided by GHCO, the authorized underwriting agent. GHCO actively trades ETFs and recently began listing ETPs in cryptocurrencies. It has an unrivalled track record of quoting the tightest spreads, which is a key requirement for institutional investors, 21shares said. 21shares, based in Zug, is the leading issuer of cryptocurrency ETPs with over $1.5 billion in assets under management spread across 14 ETPs listed on various European exchanges. The company has already offered cryptocurrency ETPs to institutional investors in Switzerland, Germany, France, Austria and the Netherlands. In March, 21shares launched Bitcoin Cash (BCH) and Ethereum (ETH) ETPs on Deutsche Börse’s Xetra exchange. What is your opinion on crypto-currency exchanges? Tell us what you think in the comments section below.
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21shares, ABTC, Aquis Exchange, Austria, start, ETP, ETP provider, Euronext, France, Germany, GHCO, institutional investors, launch, liquidity provider, London, market maker, Paris, Switzerland, United Kingdom Photo credit: Shutterstock, Pixabay, Wiki Commons21 shares is hoping to help solve the problem of a) Cryptocurrency exchanges who do not allow for traditional investors (equity, ETF, and so on) to be able to access the digital currency market, and b) those who are unable to place their own orders due to the complexities involved with this type of trading.. Read more about swiss bitcoin etf and let us know what you think.
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