Popular Bitcoin ETP set to debut UK
BTCE will Start trading to the Aquis Exchange in London and Paris next week.
The product surfaced on Germany’s Xetra electronic stock market past June.
Cryptocurrency investment manager ETC Group is expanding its own Bitcoin (BTC) exchange-traded merchandise offering in the uk after harnessing Swiss market rules to bypass more stringent British regulations. Once launched, BTCE will grow to be the first cryptocurrency ETP to exchange in the United Kingdom.Bradley Duke, CEO of ETC Group, said that the item is already being used by investors as an”effective hedge against inflation.” He explained:”ETC Group offers exposure to bitcoin, ether, and litecoin through our 100% physically backed cryptocurrency ETPs, also bringing our flagship bitcoin merchandise to Aquis Exchange was a sensible step as institutional demand for exposure to crypto grows around the world.” Alasdair Haynes, CEO of Aquis Exchange, described cryptocurrency as a”bona fide asset class” that gives investors more options for achieving a more balanced portfolio. “Aquis includes a history of innovation and is responding to customer demand for these assets in an agile way permitting traders to get them at a more liquid, regulated environment,” he said. Since launching its own Bitcoin ETP in Germany in June 2020, ETC Group has exchanged $5.4 billion worth of cryptocurrencies, underscoring the continued growth of digital-asset investing one of the associations. The arrival of so-called smart currency traders has catapulted Bitcoin and other electronic currencies into the limelight. But, their involvement on the marketplace has added another layer of uncertainty to Bitcoin’s post-halving cost goals. Since Cointelegraph lately reported, much of the selling happening in BTC lately has come at the hands on new market entrants. Six high-profile funds are currently under review by the U.S. securities regulator, with the first decision scheduled for later this month.
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