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 for free
Signup and gain exclusive members-only insights - all free of charge!
- 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
