Swiss SIX Exchange Lists Actively Managed Bitcoin ETP

Registered by Swiss crypto investment manager FiCAS, the new Bitcoin Capital Active ETP trades crypto without direct investor involvement.

Swiss SIX Exchange, one of the world’s largest stock exchanges, is listing a new cryptocurrency exchange-traded product, or ETP.

Dubbed the “Bitcoin Capital Active ETP,” the new trading product represents an actively managed crypto ETP, trading Bitcoin (BTC) against 14 top altcoins like Ether (ETH) and exiting to fiat without active involvement from investors.

Claimed to be the world’s first actively managed crypto ETP, the new product is now listed on SIX Exchange under index BTCA.

Discretionary ETP might be a great fit for the crypto industry

The BTCA is registered by Swiss-based crypto investment management firm FiCAS and issued by Bitcoin Capital AG. The new ETP product is issued at 100 Swiss francs, the firm said.

Mattia Rattaggi, chairman of the FiCAS Board, explained that the issue price of the BTCA was driven by the desire to accommodate and facilitate market liquidity, retail concerns and portfolio management rebalancing requirements.

Rattaggi noted that investors now have a new option of investing money into a crypto ETP that discharges their direct involvement, comparing the BTCA to traditional discretionary portfolio management. Rattaggi added that the new product should be a good fit for the nascent crypto market:

“Time will tell how this innovation will impact the industry. Arguably, an actively managed, discretionary ETP may be better suited for the still nascent cryptocurrency markets, because it focuses on active risk management more than in a systematically-driven passive ETP.”

The list of cryptocurrencies authorized for trading is defined and driven by SIX Exchange, the Rattaggi said, “We have chosen coins that have their own blockchain, high market capitalization and a large liquidity pool.” He noted that the ETP does not include privacy coins.

What is a crypto ETP?

In traditional finance markets, an ETP is a type of security that is priced derivatively and trades based on investment tools such as a commodity, a currency, a share price, or an interest rate. Opposed to crypto exchange-traded funds, or crypto ETFs, crypto ETPs are always 100% backed by the assets they are tracking.

Swiss SIX Exchange has listed multiple crypto ETPs since listing the world’s first crypto ETP in late 2018. At the time, the stock exchange listed Amun’s Crypto Basket ETP (HODL), which tracked five major cryptos like Bitcoin, Ether, XRP, Bitcoin Cash (BCH) and Litecoin (LTC). Since January 2020, SIX Exchange has also been actively listing numerous ETPs backed by crypto asset manager 21Shares.


Join Geezgo for free. Use Geezgo’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>
Did you enjoy this post? Please comment below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash


You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *