Swiss SIX Substitution, Switzerland's principal stock substitution, continues to expand its crypto products with a new Bitcoin (BTC) exchange-traded product, or ETP.

On Jan. 13, SIX launched trading of the BTCetc Bitcoin ETP (BTCE), a new crypto ETP production issued by London-based investment firm ETC Group. The newly listed ETP tracks the cost of Bitcoin, providing investors with a new way to get exposure to the world's largest cryptocurrency. Each BTCE unit provides holders with a claim on a predefined corporeality of BTC.

ETC Group specializes in edifice new digital asset-backed securities and is backed by shareholders like XTX Markets'due south venture capital arm XTX Ventures and financial services firm ITI Capital letter.

SIX is one of the world'southward biggest ETP trading platforms, listing a wide number of crypto investment products. After listing the world's starting time crypto ETP in late 2018, Vi has been actively introducing diverse ETPs including several products backed by 21Shares. In July 2020, Six listed the Bitcoin Capital Active ETP, an actively managed ETP trading BTC confronting fourteen top altcoins similar Ether (ETH).

An ETP is a type of security that is priced derivatively and trades based on investment tools such as a article, a currency, a share price, or an interest charge per unit. Opposed to crypto commutation-traded funds, or ETFs, crypto ETPs are ever 100% backed by the assets they are tracking.

Nonetheless, while crypto ETPs increasingly pop up on exchanges, peculiarly in Europe, the digital asset manufacture is still waiting for the outset crypto ETF.

The crypto community has made numerous attempts to launch a crypto ETF in recent years, with investment direction business firm VanEck becoming the outset visitor to file for a Bitcoin ETF in July 2018. The U.s.a. Securities and Substitution Committee pulled back many ETF efforts, including 2 applications by Gemini founders Cameron and Tyler Winklevoss.

In the finish, these applications were eventually dismissed by regulators, many of whom still believed that the crypto manufacture hadn't sufficiently matured in society to back up an ETF. The United States Securities Commutation has besides expressed business over the volatility of crypto avails and the outcome of custody vis-a-vis a Bitcoin ETF.

Despite many failed attempts, the crypto industry continues its efforts to listing a Bitcoin ETF on a major exchange. On Jan. 11, Canadian investment fund manager Arxnovum Investments filed a prospectus for a Bitcoin ETF with Canadian securities regulators.