Switzerland-based 21Shares, previously often called Amun, has stated it can make its Bitcoin (BTC) exchange-traded product accessible to merchants
Switzerland-based 21Shares, previously often called Amun, has stated it can make its Bitcoin (BTC) exchange-traded product accessible to merchants in the UK by means of the Aquis Trade.
In response to an announcement from 21Shares, its Bitcoin exchange-traded product, or ETP, will probably be accessible to skilled buyers on the Aquis Trade this summer time. U.Okay.-based agency GHCO will probably be performing because the crypto ETP’s liquidity supplier, with 21Shares saying the product can be “engineered like an [exchange-traded fund].”
“ETPs commerce on exchanges in an identical method to a listed inventory and institutional buyers within the U.Okay. will get publicity to Bitcoin by way of a regulated framework and construction which they’re already accustomed to,” stated 21Shares. “The ETP has been designed to supply institutional U.Okay. buyers with safe and cost-effective publicity to Bitcoin with out the related Bitcoin custody and safety challenges.”
21Shares reported greater than $1.5 billion in property underneath administration throughout 14 ETPs accessible on European inventory exchanges. One unit of the agency’s Bitcoin ETP on Aquis will reportedly symbolize publicity to 0.00035 BTC, or roughly $12.54, on the time of publication.
A number of firms have begun increasing their crypto merchandise to the U.Okay. market. Additionally on Monday, crypto funding supervisor ETC Group’s Bitcoin ETP started buying and selling on the Aquis Trade in London and Paris. Nonetheless, the nation’s monetary watchdog, the Monetary Conduct Authority, banned the sale of crypto derivatives to retail merchants in January.