Bitcoin exchange traded product coming to the UK

© Reuters.

By Samuel Indyk – ETC Group has announced that its BTCE product is to become available to trade as of 7th June via the Aquis Exchange MTFs in London and Paris.

ETC Group’s BTCetc – ETC Group Physical Bitcoin (BTCE) is the first cryptocurrency exchange traded product to be traded on a UK exchange/multilateral trading facility (MTF).

Trading will take place in GBP, CHF, EUR, and USD, while clearing ill be carried out by SIX x-clear as the sole CCP providing central clearing.

BTCE debuted on Deutsche Borse’s XETRA platform in June last year when it became the first centrally cleared Bitcoin ETP. It then listed on the Swiss SIX exchange in January.

BTCE has been the top Bitcoin ETP performer in Europe, with inflows in Q1 hitting $459.66mln, approximately 41% of the total inflows into eight Bitcoin ETPs during that period. Daily turnover is almost double the second largest Bitcoin ETP.

“We have seen many investors recognise the benefits of including secure crypto ETPs like BTCE in their portfolios as an effective hedge against inflation,” said ETC Group CEO Bradley Duke. “ETC Group provides exposure to Bitcoin, , and through our 100% physically backed cryptocurrency ETPs, and bringing our flagship Bitcoin product to Aquis Exchange was a logical step as institutional demand for exposure to crypto grows around the world.”

About the Aquis Exchange

The Aquis Exchange (LON:) was only launched in London in 2013 and operates an exchange for trading European equities and debt products. The company uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock they trade.

“Investors are increasingly accepting digital assets as a bona fide asset class and giving them a place in balanced investment portfolios,” said Aquis Exchange CEO Alasdair Haynes. “Aquis has a history of innovation and is responding to client demand for these assets in an agile way allowing traders to access them in a liquid, regulated environment.”

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