Deutsche Börse's Xetra to List a Bitcoin-Backed ETP
- The investment product received regulatory approval in March.
ETC Group, a London-based investment firm, is set to list a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded product (ETP) on Deutsche Börse’s Xetra electronic trading market later this month.
Per Tuesday’s press release, the ETP, called Bitcoin Exchange Traded Crypto (BTCE), will be physically backed 100 percent with Bitcoin which will be stored with the custodian BitGo.
The German financial markets regulator BaFin approved the Bitcoin-backed ETP in March, and, according to the issuer, it is the first such crypto investment instrument listed on the German exchange.
“BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin,” Bradley Duke, CEO of ETC Group, said. “With BTCE, we are transporting Bitcoin into the fold of mainstream, regulated financial markets. Investors get the benefits of trading and owning Bitcoin through a regulated security. while having the optionality of redeeming Bitcoin if they choose.”
Apart from Germany, investors from the United Kingdom, Italy, and Austria can also purchase and hold the Bitcoin-backed investment product.
To distribute and market the investment product, ETC has tapped HANetf, which is a white-label ETF issuance platform. The company is known for issuing ETF’s of Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term computing and medical cannabis in European exchanges and has now dipped its toes into crypto.
“Yet again HANetf is acting as a force for innovation, demonstrating the power of our white label ETF model to break down the barriers to entry to this market. Investors truly want value-added products and HANetf’s unique multi-manager platform delivers this – as the launch of BTCE proves,” Hector McNeil, co-Founder and co-CEO at HANetf, said.
Regulators are still cautious with ETFs
Though Bitcoin ETF hard to receive regulatory approval, crypto ETPs are gaining the attention of the mainstream European investors. A company called 21Shars is listing an array of such products on multiple stock exchanges in Switzerland and Germany.
ETC Group, a London-based investment firm, is set to list a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded product (ETP) on Deutsche Börse’s Xetra electronic trading market later this month.
Per Tuesday’s press release, the ETP, called Bitcoin Exchange Traded Crypto (BTCE), will be physically backed 100 percent with Bitcoin which will be stored with the custodian BitGo.
The German financial markets regulator BaFin approved the Bitcoin-backed ETP in March, and, according to the issuer, it is the first such crypto investment instrument listed on the German exchange.
“BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin,” Bradley Duke, CEO of ETC Group, said. “With BTCE, we are transporting Bitcoin into the fold of mainstream, regulated financial markets. Investors get the benefits of trading and owning Bitcoin through a regulated security. while having the optionality of redeeming Bitcoin if they choose.”
Apart from Germany, investors from the United Kingdom, Italy, and Austria can also purchase and hold the Bitcoin-backed investment product.
To distribute and market the investment product, ETC has tapped HANetf, which is a white-label ETF issuance platform. The company is known for issuing ETF’s of Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term computing and medical cannabis in European exchanges and has now dipped its toes into crypto.
“Yet again HANetf is acting as a force for innovation, demonstrating the power of our white label ETF model to break down the barriers to entry to this market. Investors truly want value-added products and HANetf’s unique multi-manager platform delivers this – as the launch of BTCE proves,” Hector McNeil, co-Founder and co-CEO at HANetf, said.
Regulators are still cautious with ETFs
Though Bitcoin ETF hard to receive regulatory approval, crypto ETPs are gaining the attention of the mainstream European investors. A company called 21Shars is listing an array of such products on multiple stock exchanges in Switzerland and Germany.