Bringing you live news and features since 2006 

BTCE has USD100m-plus record trading day as bitcoin price surpasses USD30,000


BTCetc Bitcoin Exchange Traded Crypto (BTCE) had a record trading day on 4 January with trading volume of over USDUSD100m. This comes after a previous record high of USD54 million on 17 December.   BTCE has also surpassed USD375 million assets under management (AuM).

Maximilian Monteleone, Head of Business Development at ETC Group, says: “Bitcoin has seen phenomenal interest as the price has increased from USD20,000 in mid-December to USD31,000 yesterday. Investors seem to be moving into bitcoin because of concerns around major currency devaluation as a result of massive stimulus packages being tabled by governments in response to the Covid-19 crisis.

“BTCE is an exchange traded cryptocurrency on Deutsche Boerse, and with that investors do not have to worry about the risks of trading Bitcoin on unregulated crypto exchanges or handling and storing bitcoin themselves. BTCE trades just like a stock and is safely held in the investor’s securities account at their regulated broker or bank.”

BTCE tracks the price of Bitcoin and is 100 per cent physically backed, providing investors with a safer and transparent way to gain exposure to Bitcoin.  The 10-day average spread of BTCE is 11 basis points.  BTCE was also the world’s first central counterparty cleared bitcoin ETP.  It is UCITS eligible and is distributed and marketed by HANetf.

Approved by BaFin, the German financial regulator, BTCE is structured as an exchange traded product (ETP) that is physically backed by Bitcoin. Each unit of BTCE gives the holder a claim on a predefined amount of bitcoin – a structure very similar to physically-backed gold exchange traded commodities, and allows investors the option for redemption in bitcoin. For every unit of BTCE, there is bitcoin stored in regulated, insured, institutional-grade safe custody. The entire ETP structure is based on a transparent and verifiable process to ensure that the provenance of all bitcoin in custody has been strictly vetted. BTCE is UCITS eligible.

Latest News

US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Ed Rosenberg, Texas Capital
Texas Capital Bank first opened its doors back in December 1998 and nowadays offers wealth-management services, as well as commercial,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by