Switzerland-based investment product provider 21 shares is launching Bitcoin ETP (exchange-traded products) in the UK on Aquis Exchange. The company said, the product will launch in mid-June and is in partnership with the exchange-traded funds (ETFs) firm GHCO. GHCO will act as the liquidity provider for the bitcoin ETP.
21shares Bitcoin ETP (ABTC) is available on Aquis exchange, a pan European MTF business based in London and Paris. It offers trading in some of the biggest and most liquid stocks across 15 European markets.
21shares, formerly also called Amun. The ETP will be centrally cleared (CCP) and is engineered like an ETF. Institutional investors in the UK will get exposure to bitcoin via a regulated framework and structure which they are already habitual.
ETPs design provides institutional U.K. investors “secure and cost-effective exposure to bitcoin without associated bitcoin custody security challenges”. One unit of 21shares Bitcoin ETP represents exposure to roughly 0.00035 bitcoin entitlement.
21shares is the largest cryptocurrency ETP issuer globally, with over $1.5bn in AUM across 14 ETPs available on several European stock exchanges. The UK follows over two years of successful testing and launching of cryptocurrencies ETPs by 21shares for institutional investors in Germany, France, Austria, Switzerland, and the Netherlands.
Aquis plans to bring more 21shares’ suite of crypto products to UK investors, including ETPs in other prominent digital currencies. It includes ETPs in Ethereum, Ripple, Tezos, Polkadot, Cardano, and stellar.
Thoughts of CEOs
Alasdair Haynes, CEO of Aquis Exchange said, “We have been working alongside 21Shares on this project as we are keen to respond to institutional demand in the UK for digital assets.”
Hany Rashwan, CEO of 21 shares, said, “This is the right time to bring our successful crypto ETP to the institutional U.K. 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.”
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Dan Izzo, CEO of GHCO, added: “ETPs are a key development for investing in crypto assets as it matures as an asset class. We expect more demand for this reliable, easily-accessible infrastructure with deep pools of liquidity – liquidity that we are happy to facilitate.”
21Shares Bitcoin ETP will be available on Aquis Exchange for professional investors only. The forthcoming UK launch might take place this summer. It follows recent successful debuts on Euronext Paris and Amsterdam on 1st June.
