ETC Group Lists Physically-Settled Bitcoin Exchange-Traded Product On Cboe Europe  

ETC Group has listed a Bitcoin ETP on Cboe Europe. 

Leading European digital asset provider ETC Group has announced that it has listed its physically-backed BTCetc ETC Group Physical Bitcoin on the Amsterdam-based exchange, Cboe Europe. Cboe Europe is considered one of Europe’s largest stock exchanges.

News: We’ve today listed our physically-backed BTCetc ETC Group Physical Bitcoin (ticker BTCE) on Cboe Europe, the largest pan-European stock exchange by market share and value traded.https://t.co/R1n8NHjdKy pic.twitter.com/esHvnCGoFm

— ETC Group (@ETC_Crypto) July 28, 2022

Details of the ETC’s ETP

The Bitcoin-backed exchange-traded product (ETP) debuted on Cboe Europe under the ticker (BTCE). Trading of BTCE will be conducted in euros, ETC Group noted in a press release today. 

Per the announcement, BTCE has the support of renowned market makers and authorized participants, who have vast experience in both the cryptocurrency and exchange-traded product market. 

According to ETC Group, authorized participants will focus on ensuring on-exchange liquidity and tight spreads. The rationale is to enable traders to purchase the fund at different sizes without worrying about the market impact. 

Commenting on the development, Tim Bevan, the co-CEO and founder of ETC Group, said the upcoming launch of BTCE on Cboe Europe is necessary given that demand for cryptocurrency exposure among traditional investors has skyrocketed. 

“As a flagship product, bringing BTCE to Cboe Europe is a logical step as demand for exposure to crypto recovers worldwide. The BTCE listing on Cboe Europe further establishes ETC Group’s leadership position in European domiciled cryptocurrency-backed securities,” Bevan said. 

ETC Group ETPs

Notably, ETC Group’s ETPs provide investors with numerous benefits that supersede the underlying assets being tracked. 

The company’s ETPs are available on regulated exchanges, and investors can buy and sell the funds the same way as traditional financial instruments, like stocks and commodities. 

“The underlying collateral is securely stored in institutional-grade custody, and investors do not require a digital wallet or related technical knowledge,” the announcement adds. 

ETC Group is currently one of the most prominent digital asset providers in the industry. So far, the company has launched various crypto-backed ETPs across major European exchanges. 

Late last year, TheCryptoBasic reported that ETC Group debuted an institutional grade Tezos (XTZ) ETP on Europe’s largest exchange-traded fund exchange Deutsche Börse XETRA. 

As announced by the company on November 9, 2021, the volume of cryptocurrency assets under the management of ETC exceeded $2 billion. 

We are proud to announce that @ETC_Crypto has reached $2 Billion AUM!
We would like to thank our supportive customers, investors, partners and our team for this incredible milestone.

Read more: https://t.co/GWP7cNNnjA #UK #Bitcoin #Crypto #ETCGroup pic.twitter.com/E6NRdsnRU4

— ETC Group (@ETC_Crypto) November 9, 2021

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