Britain’s first institutional Bitcoin ETP goes stay on Aquis Alternate – Coingape
While UK regulators are currently dealing with several crypto scams emerging in the country, this hasn’t stopped crypto players from launching institutional-grade bitcoin products. The UK’s first Bitcoin ETF from 21Shares, based in Switzerland, will go live in London today June 7th.
This introduction of 21Shares takes place in partnership with the leading market maker and liquidity provider GHCO. The press release points out that the 21Shares Bitcoin ETP (ABTC) is to be settled centrally and developed like an ETF. Exchange Traded Products (ETPs) are traded on the stock exchanges in the same way as listed stocks.
With this latest introduction, UK-based institutional players will be able to invest in Bitcoin through a regulated framework and in a safe and affordable manner. Plus, they don’t have to face the challenges associated with Bitcoin custody. Each Bitcoin ETP entity offers exposure to nearly 0.00035 Bitcoin entitlements. Hany Rashwan, CEO of 21Shares, said:
“This is the right time to bring our successful crypto ETP to the UK institutional market. Our strong track record and existing institutional reach across continental Europe means investors can confidently invest in Bitcoin through a liquid and conventional investment product. “
21Shares launches more institutional crypto products
21Shares is one of the largest ETP issuers in the world with more than $ 1.5 billion in assets under management. The most recent launch of the Bitcoin ETP comes after two years of successful testing of crypto ETPs. The Switzerland-based group also has institutional grade crypto ETP products in other European countries such as Switzerland, France, Germany, Austria and the Netherlands.
21Shares said it will partner with Aquis Exchange to create a range of institutional products and ETPs for other digital assets such as Ethereum (ETH), Ripple (XRP), Tezos, Polkadot (DOT), Cardano (ADA) and Stellar (XLM) provide.
On the other hand, GHCO will act as an authorized participant for the 21Shares product. This serves as a liquidity provider for the Bitcoin ETP. This will give institutional investors as well as the underlying asset access to sufficient liquidity. Dan Izzo, CEO of GHCO, said:
“ETPs are an important development for investing in crypto assets as they mature as an asset class. We expect greater demand for this reliable, easily accessible infrastructure with deep liquidity pools – liquidity that we are happy to provide. “
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Bhushan is a FinTech enthusiast and has a keen understanding of the financial markets. His interest in business and finance draws his attention to the emerging blockchain technology and cryptocurrency markets. He is constantly in a learning process and motivates himself by sharing what he has learned. In his spare time he reads crime novels and sometimes explores his cooking skills.