Institutional investors based in the UK and France will be able to receive exposure to BTC via a Bitcoin ETP launched by 21Shares. The Swiss organization announced that its exchange-traded product that tracks the performance of the largest cryptocurrency will be available on Aquis Exchange.
A Bitcoin ETP coming to the UK and France
Based in Zug, Switzerland, 21Shares allows investors to invest in various cryptocurrency assets via conventional ETPs or other similar services. The former has launched numerous exchange-traded products in recent years and its largest will see the light in the UK and France.
According to the press release shared with everyone, the listing will be possible after a partnership with GHCO, a notable marker manufacturer and liquidity provider specializing in ETFs.
As a result, 21Shares' Bitcoin ETP (ABTC) will launch on Aquis Exchange. The statement describes the platform as “a pan-European MTF business based in London and Paris offering trading in some of the largest and most liquid stocks across 15 European markets”.
Interestingly, the BTC ETP will be designed in a similar way to an ETF, which means it will be centrally cleared (CCP). As a result, institutional investors in France and the UK will gain exposure to BTC "through a regulated framework and structure they are already accustomed to".
“This is the right time to bring our successful crypto ETP to the UK institutional market. Our solid track record and institutional reach across continental Europe means that investors can confidently acquire exposure to Bitcoin through a liquid and conventional investment product. " - commented 21Shares CEO Hany Rashwan.
The Bitcoin ETP is expected to debut this summer and will only be available to professional investors.
The first of many?
The statement further stated that the organizations involved in this project aim to expand the portfolio of available ETPs related to cryptocurrencies in the coming years.
If the Bitcoin ETP launch is successful, 21Shares and Aquis Exchange could also carry exchange-traded products that monitor the performance of Ethereum (ETH), Ripple (XRP), Tezos (XTZ), Polkadot (DOT), Cardano (ADA). and Stellar (XLM).
Dan Izzo, CEO of GHCO, noted that ETPs are a “key development for invest in crypto assets as they mature as an asset class ”. Furthermore, the executive believes that the demand for these products will only increase as they are "reliable and easily accessible infrastructures with deep reserves of liquidity - liquidity that we are happy to facilitate".
Surely this is good news for the whole industry and because of this, we think that some positive BTC predictions could become real before the end of the year.