CoinShares launches physically-backed Bitcoin ETP and eyes seven further crypto launches

$100m seeding level meets requirement

James Baxter-Derrington
clock
CoinShares plans to launch a further seven crypto ETPs in addition to its Bitcoin offering
Image:

CoinShares plans to launch a further seven crypto ETPs in addition to its Bitcoin offering

CoinShares has launched a physically-backed Bitcoin ETP, the first of a full suite of eight digital securities the firm hopes to bring to market.

The CoinShares Physical Bitcoin ETP (BITC) comes to market with assets under management in excess of $100m, allowing the product to be considered by institutional investors. Each unit of BITC is backed by 0.001 Bitcoin at launch and the ETP is listed on Swiss exchange SIX, with a management fee of 0.98%. Seeing both sides of the same coin: Wealth managers split on Bitcoin amid growing adoption and wild price swings The secured wallets required to hold Bitcoin will be maintained by custodian Komainu, a joint venture between CoinShares, Ledger and Nomura, which has established two se...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ETFs

Total funds under management have fallen on the previous year, down to £1.4trn from June 2021’s £1.5trn.

Every asset class suffers outflows in second worst month on record

Responsible investment holds up

James Baxter-Derrington
clock 04 August 2022 • 2 min read
Inflation protection drops to 14% of views, down from 17% over the previous quarter.

Advisers curb inflation protection research

UK CPI climbs to 9.4%

clock 20 July 2022 • 2 min read
UK equities saw the largest outflows out of any category, at more than £2bn.

Refinitiv: Equity funds see almost £7bn outflows in June

Passive bonds attract fresh capital

clock 18 July 2022 • 3 min read
Trustpilot