- 21Shares announced its launch of Bitcoin ETP on Aquis Exchange in the UK.
- It will launch its Bitcoin ETP in partnership with market-maker GHCO.
- Today, ETC Group launches its crypto ETP on the Aquis Exchange MTF.
On Monday, 21Shares (formerly known as Amun) announced the launch of its Bitcoin exchange-traded product (ETP) on the UK’s Aquis Exchange Multilateral Trading Facility (MTF) in mid-June.
21Shares will launch its Bitcoin ETP in partnership with GHCO, one of the fastest-growing liquidity providers specializing in exchange-traded funds. Hence, GHCO will act as the liquidity provider for the Bitcoin ETP. In a press release, GHCO said ‘the ETP shall be engineered like an ETF’. As a result, this will give institutional investors in the U.K. exposure to Bitcoin through a regulated framework.
By far, London has been very careful about approving crypto products. Earlier this year, their Financial Conduct Authority banned the sale of derivatives and exchange-traded notes in the country. Furthermore, the FCA believes crypto is ill-suited for retail customers, even citing samples why it’s not reliable.
Hany Rashwan, CEO of 21Shares stated,
“This is the right time to bring our successful crypto ETP to the institutional UK market. Our strong track record and existing institutional reach across continental Europe means that investors can confidently gain exposure to Bitcoin via a liquid and conventional investment product.”
Notably, ETP was meant to provide UK investors a secure and cost-effective exposure to Bitcoin. However, this is in hopes that it will be without the associated Bitcoin custody and security challenges. Also, one unit of 21Shares Bitcoin ETP represents exposure to roughly 0.00035 Bitcoin entitlement.’
Apart from this, ETC Group launched its crypto ETP today on the Aquis Exchange MTF. Switzerland-based central counterparty clearing house SIX x-clear will execute the clearing. Lastly, 21Shares, ETC Group, WisdomTree, and VanEck also listed their ETPs on the Euronext Paris and Amsterdam Stock Exchange.