ETC Group, a specialist provider of innovative, digital asset-backed securities, has listed its BTCetc – ETC Group Physical Bitcoin (BTCE) and ETHetc – ETC Group Physical Ethereum (ZETH) on Euronext Paris in EUR and on Euronext Amsterdam in USD.
The ETCs are issued in Germany by ETC Group and marketed and distributed by HANetf. Both products have been market leaders in terms of trading volumes and assets under management (AuM) since they launched on the Deutsche Börse. The products are available on Euronext for professional investors only.
These latest listings of ETC Group’s flagship products are in response to continuing high demand for physically backed crypto ETCs, especially by European financial institutions who increasingly seek diversification through exposure to the most popular digital assets. BTCE and ZETH will be the first crypto based ETPs to list on Euronext exchanges.
BTCetc -ETC Group Physical Bitcoin is currently Europe’s most traded physical Bitcoin ETC in Q1, 2021 having launched on XETRA in June 2020 and the SIX Swiss Exchange in January 2021. The product has seen assets under management grow to over USD1 billion in just seven months, and has been the top exchange traded product (ETP) performer for inflows, daily turnover and spreads among a total of eight Bitcoin ETPs within Q1, 2021 in Europe.
Bradley Duke, CEO of ETC Group, says: “The success of BTCetc – ETC Group Physical Bitcoin and ETHetc – ETC Group Physical Ethereum is down to the team’s commitment and focus on customer centric innovation in product development. Whilst ETC Group’s listings in Germany and Switzerland are open to international as well as local investment, we recognise the benefits of listing on more country exchanges to make it easier for local investors to gain access to secure, regulated digital assets-backed securities. These latest listings in Paris and Amsterdam, both key financial hubs in Europe, increase the availability and ease of access to our ETC products for a wider range of institutional investors.”
Amongst its other products, ETC Group’s Physical Ethereum ETC ‘ZETH’ has seen its assets under management (AuM) surpass USDUSD100 million in under three months since its initial launch on Deutsche Börse’s XETRA platform in March 2021. ETC Group’s Physical Litecoin ETC ‘ELTC’ was first listed on XETRA in April 2021.
The cryptocurrency ETCs provide investors with several benefits over investing directly in the cryptocurrencies they track. Traded on regulated markets, investors can buy and sell the ETCs in the same way they would when trading conventional shares, with the identical regulatory protections in place. The cryptocurrencies are 100 per cent physically backed. Central counterparty clearing is absent in underlying crypto currency markets, but is a feature that investors expect when trading an ETP on a regulated exchange, as it greatly reduces counterparty risk when trading.