Digital ETP provider ETC Group is launching a Bitcoin Cash Exchange Traded Product (ETP) on Deutsche Börse XETRA, available for trading from 21 September 2021.
The firm writes that with 1.95 per cent TER, the new crypto product, called BCHetc – ETC Group Physical Bitcoin Cash (ticker: BTCH) aims to be the lowest cost Bitcoin Cash product available currently, while benefiting from the high quality, institutional grade security and custody, and 100 per cent physically backed features that match ETC Group’s other ETC securities.
Produced in response to strong demand from institutional investors, the XETRA listing brings BTCH within particularly easy reach of investors in Germany, which now boasts some of the most crypto friendly tax laws in mainland Europe.
Bitcoin Cash (BTCH) began as a fork of the original cryptocurrency, bitcoin, and in the intervening years has seen global merchant adoption as a cross-border payments protocol promising cheap, fast transactions, with all the security, transparency, and tamper-resistant benefits of a world-leading blockchain. In October 2020 Bitcoin Cash, was chosen with only three other cryptocurrencies to form the backbone of payments services Venmo and Paypal’s crypto strategies, putting Bitcoin Cash in reach of millions of new users in the US and across the world.
European professional investors prefer to trade Bitcoin Cash via an ETP and this listing on XETRA is especially relevant for European investors as they can now get exposure to Bitcoin Cash with the liquidity and security that comes with trading an institutional-grade product on Europe’s largest ETF trading venue.
As an asset backed debt security that is approved and issued in Germany, investors do not need to engage with the technical challenges of purchasing and storing digital assets themselves via crypto exchanges, or the management of cryptographic keys. Fully fungible with Bitcoin Cash, the ETP is marketed and distributed across Europe by HANetf, alongside ETC Group’s existing physical ETPs based on Bitcoin, Ethereum and Litecoin.
Bradley Duke, CEO of ETC Group says: “Following the successful launch of our Bitcoin, Ethereum and Litecoin ETCs, which are now the most traded products of their kind in Europe, we have seen strong demand from investors for a Bitcoin Cash product. We expect BCHetc – ETC Group Physical Bitcoin Cash to prove popular with professional investors who want a cleaner, simpler and more secure way to gain exposure to the booming investment universe of digital assets.”
Hector McNeil, co-Founder and co-CEO at HANetf, says: “ETC Group has established itself as a market leader in offering investment products focused on crypto assets. ETC Group has expanded its presence in the market with the listing of new crypto product, BCHetc – ETC Group Physical Bitcoin Cash. ETC Group is building products that adhere to the complex and exacting standards of the institutional investor and BCHetc – ETC Group Physical Bitcoin Cash will give investors another secure way to gain exposure to crypto products. BTCH follows the hugely successful launches of BTCetc – ETC Group Physical Bitcoin, ETHetc -ETC Group’s Physical Ethereum and LTCetc – ETC Group Physical Litecoin.”
