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Next Monday, BTCE will begin trading on the Aquis Exchange in London and Paris. Last June, the product made its debut on Germany’s Xetra digital stock exchange.
ETC Group, a cryptocurrency investment manager, is extending its Bitcoin (BTC) exchange-traded product offering in the United Kingdom by leveraging Swiss market rules to circumvent more severe British restrictions.
The ETC Group Physical Bitcoin ETP, symbol BTCE, will begin trading on the Aquis Exchange in London and Paris on June 7, the business said Tuesday. When it is released, BTCE will be the first cryptocurrency ETP to trade in the United Kingdom.
Bradley Duke, CEO of ETC Group, said the product is already being used by investors as an “effective hedge against inflation.” He explained:
“ETC Group provides exposure to bitcoin, ether, and litecoin through our 100% physically backed cryptocurrency ETPs, and bringing our flagship bitcoin product to Aquis Exchange was a logical step as institutional demand for exposure to crypto grows around the world.”
Alasdair Haynes, CEO of Aquis Exchange, defined bitcoin as a “legitimate asset class” that provides investors with more alternatives for establishing a well-balanced portfolio. “Aquis has a history of innovation, and we are responding to client demand for these assets in an agile manner, allowing traders to access them in a liquid, regulated environment,” he added.
Since establishing its Bitcoin ETP in Germany in June 2020, ETC Group has traded $5.4 billion in cryptocurrencies, demonstrating the steady expansion of institutional digital-asset investing.
The emergence of so-called smart money investors has propelled Bitcoin and other digital currencies into the spotlight. Their participation in the market, however, has added another element of uncertainty to Bitcoin’s post-halving price forecasts. As Cointelegraph has highlighted, much of the current selling in BTC has come from fresh market participants.
Meanwhile, across the Atlantic, fund issuers are lined up to persuade the Securities and Exchange Commission of the United States to ultimately approve a Bitcoin exchange-traded fund. Six high-profile funds are presently being reviewed by the US Securities and Exchange Commission, with the first judgement expected later this month.