Expert Investor
Author: Mauricio Carrillo
Senior Reporter
Mauricio Carrillo

First Bitcoin ETP to be Traded on XETRA, at The Deutsche Boerse

London based investment firm ETC Group is about to launch the first ever Bitcoin ETP listing on Deutsche Börse's Xetra electronic trading market.

The financial instrument, previously approved by the German regulator BaFin, will be listed via the white label platform HANetf, and everybody with access to the German stock exchange will be able to buy and sell the BTC ETP product.

Thought, investors in Germany, the United Kingdom, Italy, and Austria will be the first to enjoy it.

The whole idea is that people will be able to invest in 100% physical backed Bitcoins listed on a regulated and investing platform. The assets will be in the protection of the custodian BitGo, so they won't have to hesitate to store it or maintain it safe.

BTCE Details

In the case the trader would want to have the asset, he would be able to withdraw it and store it by himself. Also, the BTCE will track the price of Bitcoin, and it will have a total expense ratio, or TER, of 2% per annum.

According to Bradley Duke, ETC Group's CEO, the instrument brings transparency and protection for investors and is backed by regulators and institutions in the financial markets.

Duke said in a press release:

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. Alongside the issuing of the exchange traded cryptocurrency, we are also very pleased to partner with HANetf to help us to democratise crypto investing through greater content and education.

The BTCetc Bitcoin Exchange Traded Crypto will be listed under the BTCE code. 1 BTCE equals 0.001 BTC less fees approximately. The instrument will be available to be traded later in June.

Cryptocurrencies Are Winning Ground Every Day

Labeled as dark and too wild, cryptocurrencies are winning ground and transparency status every day. Back in March, just three months ago, German Regulator BaFin confirmed cryptocurrencies as financial instruments. It is a bold move that, at the same time, recognizes the role of cryptos in global markets in recent years.

HANetf, the platform that will distribute and market the BTCE, is a fast growing startup backed by ETF industry veterans. The platform is better known for being the issuers of Europe's first cloud computing ETF and medical cannabis ETF.

According to the press release:

BTCE will be an excellent addition to the stable of ETFs and ETPs HANetf already offers.

On the other hand, while ETPs are gaining traction in Europe, crypto ETFs are still far from being regulated.

Meet The Author
Mauricio Carrillo
Mauricio Carrillo
Senior Reporter

Mauricio is a newer member of the team and a very welcome addition. He is a financial journalist and trader with over ten years of experience in stocks, Forex, commodities, and cryptocurrencies. This experience means he has an excellent understanding of the markets and current events.

Investing News

Related Pages