It joins several other ETP providers on the exchange, including ETC Group, with its own physically backed bitcoin product.
CoinShare will launch its ETP with Swiss exchange SIX.(marcelkessler/Pixabay)
Jan 18, 2021 at 10:45 p.m.UTC Updated Jan 18, 2021 at 10:58 p.m.UTC CoinShares to Launch a Bitcoin ETP on SIX Swiss Exchange
Digital asset management firm CoinShares announced Monday that it’s launching an exchange-traded bitcoin product (ETP) on Swiss stock exchange SIX, according to a Bloomberg report.The ETP will go live on Jan.19 and will be listed under the ticker BITC.Bitcoin ETPs provide exposure to bitcoin in a regulated asset class.In contrast to the U.S., where regulators have been loathe to sign off on bitcoin ETF applications, there are already several entities offering crypto-backed products across Europe.
The product’s assets will be custodied by Komainu, a venture which launched about a year ago, involving Nomura Holdings, CoinShares and Ledger.BITC will charge a 0.98% expense ratio and will be physically backed by bitcoin.
Just last week, digital asset-backed securities developer ETC Group announced that it would list a physically backed bitcoin ETP on SIX.ETC Group was the 34th ETP provider on the exchange, making CoinShares the 35th.
Share this: Exchange Tokens: Neither a Great Investment Nor a Great Market Indicator Jan 30, 2020 at 19:16 UTCUpdated Jan 30, 2020 at 19:21 UTCLine graph showing exchange token and bitcoin returns’ correlation vs timeThey’re definitely not equity, but could “exchange tokens” be bellwethers for one of crypto’s best use cases? (Spoiler: Probably not)Among thousands of venture-backed startups, tokens, coins, blockchains and open-source technology projects, exchange operators now… Standard Chartered, Siemens Partner to Put Bank Guarantees on a Blockchain NEWS Aug 29, 2018 at 14:00 UTC Multinational banking firm Standard Chartered is teaming up with the financial arm of manufacturing giant Siemens for a pilot scheme that puts bank guarantees for trade finance on a blockchain.According to a report from IBS Intelligence, the effort – that also includes assistance from digital ledger firm… Facebook Libra, Other Cryptos Must Comply With US Rules: Treasury Official news Facebook’s Libra must achieve the highest standards of U.S.regulatory compliance prior to any launch, a U.S.Treasury official has said.
Speaking to reporters in Geneva, Switzerland, Sigal Mandelker, under secretary of the Treasury for terrorism and financial intelligence, said not only Libra, but other cryptocurrencies operating in all or part of the U.S.will… Suspected Twitter Hacker Arrested In Florida Jul 31, 2020 at 19:03 UTCUpdated Jul 31, 2020 at 19:40 UTCThe 17-year-old hacker suspect faces 30 felony charges.
(Twitter.com)Suspected Twitter Hacker Arrested in FloridaThe FBI has arrested an individual allegedly behind the largest hack in Twitter’s history.Florida resident Graham Clark was arrested Friday morning, according to Florida news channel WFLA.
State Attorney Andrew… France Says It Will Block Facebook Libra in Europe news The French finance minister has said the nation plans to block Facebook’s Libra cryptocurrency in the EU over concerns that it poses a threat to the sovereignty of national currencies.
According to The Independent newspaper on Thursday, Bruno Le Maire, Economy and Finance Minister of France, said: “I want to be absolutely clear: In these conditions, we cannot… High School Team Places Third in Barclays Blockchain Challenge Event news If understanding how distributed ledger tech works inside banks is complex, finding ways to make different varieties of enterprise blockchains talk to each other is a doozy of a challenge.And yet, that’s exactly what a team of high school students – soon to sit their A-Level exams in computer science – has done.… WATCH: Lukka CEO Believes in a Future Full of Corporate Tokens news Jake Benson is a long-time industry entrepreneur and the CEO and Founder of Lukka, a comprehensive tool for calculating capital gains taxes for cryptocurrency.In this clip he and CoinDesk Editor Pete Rizzo talk about a future where corporate tokens aren’t a “surprise.” “It’s not a surprise to me that inevitably corporations they’re going… Bitcoin Hits Fresh 2020 High Oct 21, 2020 at 14:03 UTCUpdated Oct 21, 2020 at 14:39 UTCBitcoin prices, Sep.
21 to Oct 21, 2020.Bitcoin’s price clocked fresh 2020 highs on Wednesday after online payments company PayPal announced support for cryptocurrencies.The cryptocurrency jumped to $12,481 during the U.S.trading hours to reach the highest level since July 2019, surpassing the… .
