Switzerland-based 21Shares, formerly known as Amun, has said it will create its own bitcoin (B T cExchange-traded products available to traders in the United Kingdom through the Aquis Exchange.
According to an announcement from 21Shares, its bitcoin exchange-traded product, or ETP, Will Be available to professional investors on the AQUIS exchange this summer. UK-based firm GHCO will act as the liquidity provider of the crypto ETP, with 21 stocks saying the product will be “engineered like one”. [exchange-traded fund]”
“ETPs trade on exchanges in a manner similar to a listed stock and institutional investors in the UK will get exposure to bitcoin through a regulated framework and structure they are already accustomed to,” 21Shares said. “The ETP is designed to provide institutional UK investors with safe and cost-effective exposure to bitcoin without the associated bitcoin custody and security challenges.”
21Shares reported over $1.5 billion in assets under management Available in 14 ETPs on European stock exchanges. One unit of the firm’s bitcoin ETP on Aquis would reportedly represent a risk of 0.00035 BTC, or approximately $12.54 at the time of publication.
Some companies have started expanding their crypto products to the UK market. Also on Monday crypto investment manager ETC Group’s Bitcoin ETP Started trading on Aquis Exchange in London and Paris. However, the country’s financial watchdog, the Financial Conduct Authority, Banned the sale of crypto derivatives retail traders in January