Switzerland-based 21shares announced that it is going to offer its crypto exchange-traded product (ETP) to institutional investors in the UK. The platform said it aims to provide UK investors with exposure to bitcoin without the need to deal with crypto custody and security.
New Bitcoin ETP to be introduced on London-based Aquis Exchange
The 21Shares Bitcoin ETP (ABTC) will be made available through a partnership with GHCO, a leading market maker and liquidity provider that specializes in exchange-traded funds (ETFs). It will be listed on the Aquis Exchange, a multilateral trading platform based in London and Paris. The exchange facilitates stock trading in 15 European markets.
The ETP is modeled like an ETF and will be approved centrally, 21 shares detailed in a press release on Monday. As ETPs trade on the same exchanges as stocks, institutional investors in the UK will face a regulated structure and structure to which they are already accustomed. The Swiss company further elaborated:
The ETP is designed to provide institutional UK investors with secure and cost-effective exposure to bitcoin, without the associated bitcoin custody and security challenges.
First UK launch on Euronext Paris and Amsterdam
Following a successful launch at Euronext Paris and Amsterdam on June 1, 21 Shares revealed that the Bitcoin ETP will be introduced in the United Kingdom this summer. The crypto firm said that one unit of ETP represents a risk of approximately 0.00035 bitcoin entitlements. Its chief executive officer Honey Rashwan was quoted as saying:
This is the right time to bring our successful Crypto ETP to the institutional UK market. Our strong track record and existing institutional reach in continental Europe means that investors can confidently gain exposure to bitcoin through a liquid and traditional investment product.
Institutional investors will have access to substantial liquidity provided by GHCO which is an authorized participant in the offering.
“GHCO is actively trading ETFs and has recently started quoting crypto ETPs. It has an unmatched track record in quoting the tightest spreads, which is a major demand from institutional investors,” said 21Share. Told.
Jug Headquarters 21 shares It is a major crypto ETP issuer with over $1.5 billion in assets under management in 14 ETPs listed on several European stock exchanges. The company has already offered cryptocurrency ETPs to institutional investors in Switzerland, Germany, France, Austria and the Netherlands. In March, 21shares launched bitcoin cash (BCH) and Ethereum (ETH) ETPs on Deutsche Boerse’s zetra.
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