First Actively-Managed Crypto ETP Lists On Regulated Market
Today, Bitcoin Capital, a new ETP issuer on the Swiss stock exchange, launches the very first actively-managed Crypto ETP tradable on a regulated marketplace. The ETP provides additional opportunities for retail and institutional investors to diversify their portfolios by incorporating an actively-managed basket of cryptocurrencies. This takes the number of ETP providers available at SIX to 5, and the number of ETPs to a record of 31 – further strengthening the position of the Swiss Stock Exchange as the world’s leading market place for regulated crypto products.
With their newly tradable ETP at SIX, Bitcoin Capital offers exposure to a discretionary product featuring cryptocurrencies as underlying assets. The Bitcoin Capital Active ETP, managed by FiCAS AG and issued by Bitcoin Capital AG, covers the top 15 cryptocurrencies with active trading and risk management. Liquidity for this innovative product is provided by Flow Traders.
Bitcoin Capital launches very first actively managed cryptocurreny ETP at SIX, taking the numberof ETPs to a record of 31 and strengthening the position of the Swiss Stock Exchange as the world’s leading regulated marketplace for crypto products. https://t.co/SXxeFJ7e6R #sixnews pic.twitter.com/QvKK73fcnS
— SIX (@sixgroup) July 28, 2020
“We are delighted to welcome Bitcoin Capital to the family of ETP providers offering their product on our exchange. The Bitcoin Capital Active ETP is the first in its class and expands the existing ETP universe by offering access to an actively-managed crypto product. With the new listing, the segment of tradeable crypto instruments increases to over 140 products” says Alain Picard, Head Trading Sales & Management, Securities & Exchanges, SIX. “Crypto products at SIX registered a market turnover of more than CHF 360 million and accounted for 16’000 transactions in the first half of 2020.”
FiCAS AG is a Swiss-based crypto investment management boutique. The firm devised the Bitcoin Capital Active ETP which is issued by Bitcoin Capital AG. The world’s first actively-managed exchange traded product is available to both retail and institutional investors in Switzerland and in selected jurisdictions across Europe.
Firms are bridging the gap between traditional finance and the crypto ecosystem.
Some cryptoassets would be subject to a new conservative prudential treatment.
There are risks to the banking system in the absence of a specified prudential treatment.
The extension allows cryptoasset firms to trade while the FCA continues assessments.
Coin Metrics provides network data, market data, indexes and network risk solutions for cryptoassets.