Cryptocurrency investment manager ETC Group is expanding its Bitcoin (Bitcoin) After using the Swiss market rules to circumvent the more stringent British regulations, products are traded on the UK exchange.
The company announced on Tuesday that the ETC Group’s physical Bitcoin ETP traded under the ticker symbol BTCE will begin trading on the Aquis exchanges in London and Paris on June 7. Once launched, BTCE will become the first cryptocurrency ETP traded in the UK.
ETC Group CEO Bradley Duke (Bradley Duke) said that the product has been used by investors as an “effective hedge against inflation.”he explained:
“The ETC Group provides exposure to Bitcoin, Ethereum, and Litecoin through our 100% physically supported cryptocurrency ETP. As the demand for cryptocurrency exposure by institutions grows globally, our flagship Bitcoin Bringing currency products to Aquis Exchange is a logical step.”
Alasdair Haynes, CEO of Aquis Exchange, described cryptocurrencies as a “true asset class”, providing investors with more options to achieve a balanced portfolio. He said: “Aquis has a history of innovation and responds to customer needs for these assets in an agile manner, enabling traders to use them in a fluid, regulated environment.”
The arrival of so-called smart currency investors has quickly made Bitcoin and other digital currencies the focus of attention. However, their involvement in the market adds another layer of uncertainty to Bitcoin’s price target after the halving.As Cointelegraph recently reported, many of the recent sell-offs of BTC have involved In the hands of new entrants.
At the same time, on the other side of the Atlantic, fund issuers are lining up to persuade the US Securities and Exchange Commission to finally approve Bitcoin exchange-traded funds.The six high-profile funds are Currently under review by U.S. securities regulators, The first decision is scheduled for the second half of this month.