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BTCetc Exchange Traded Bitcoin (BTCE) reaches $90million AUM in less than five months since launch

BTCetc Bitcoin Exchange Traded Crypto (ticker BTCE) has reached $90million assets under management (AuM) since it listed on Deutche Boerse’s Xetra in late June 2020.

The exchange traded cryptocurrency tracks the price of Bitcoin and is 100% physically backed, providing investors with a safer and transparent way to gain exposure to Bitcoin. BTCE was the world’s first central counterparty cleared Bitcoin exchange traded product It is distributed and marketed by HANetf.

Bradley Duke, CEO of ETC Group “ We worked really hard to engineer a product that provides investors with a safer and more transparent way to gain exposure to Bitcoin. By reaching the $90 million AUM milestone in just over four months, we feel that the investment community has recognised the quality of BTCE’s investor protections and trading experience which has resulted in over 1 million shares of BTCE being traded in a single day on Deutsche Borses’s Xetra . Investors also like the optionality of being able to redeem BTCE for actual Bitcoin if they so choose.

On why Bitcoin is striking a chord with investors right now, Bradley said “Bitcoin is increasingly being viewed as a safe haven asset, especially in times of unprecedent expansion of the money supply in major currencies like the US dollar and Euro in order to fund the massive stimulus packages being approved by governments to assist economies hit hard by COVID-19. Bitcoin is being correctly seen as hard currency with capped supply. BTCE gives investors access to Bitcoin on a regulated exchange without the headaches of needing to find and maintain secure storage for Bitcoin as BTCE securities are stored safely in the investors brokerage account.”

When you trade Bitcoin ETFs and ETPs your capital is at risk.

Approved by BaFin, the German financial regulator, BTCE is structured as an exchange traded product (ETP) that is physically backed by Bitcoin. Each unit of BTCE gives the holder a claim on a predefined amount of Bitcoin - a structure very similar to physically-backed gold exchange traded commodities, and allows investors the option for redemption in Bitcoin. For every unit of BTCE, there is Bitcoin stored in regulated, institutional-grade safe custody. The entire ETP structure is based on a transparent and verifiable process to ensure that the provenance of all Bitcoin in custody has been strictly vetted.

About ETC Group
ETC Group is specialized in developing innovative digital asset-backed securities and is backed by a number of major London-based financial institution. Shareholders include XTX Ventures, the venture capital arm of electronic market-making firm XTX Markets, and financial services firm ITI Capital, which also acts as Authorised Participant for BTCE.

About HANetf
HANetf is an independent provider of UCITS ETFs, working with asset management companies to bring differentiated, modern and innovative exposures to European ETF investors. Via our white-label ETF platform, HANetf provides a complete operational, regulatory, distribution and marketing solution for asset managers to launch and manage UCITS ETFs.

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Vendredi 6 Novembre 2020

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