ETC Group to List Physically-Backed Bitcoin ETP on Cboe Europe

Fazzaco learned that ETC Group (www.etc-group.com), Europe's leading specialist provider of institutional-grade digital asset-backed securities, yesterday announced that it will list its physically-backed BTCetc ETC Group Physical Bitcoin (ticker BTCE) on Cboe Europe.

As stated in the press release, ETC Group's BTCetc - ETC Group Physical Bitcoin (BTCE) will be listed to trade on Cboe Europe BV, Cboe's Amsterdam-based exchange. The trading will be executed in Euros and clearing will be carried out by SIX x-clear.

Tim Bevan, Founder and co-CEO of ETC Group comments: "As a flagship product, bringing BTCE to Cboe Europe is a logical step as demand for exposure to crypto recovers worldwide. The BTCE listing on Cboe Europe further establishes ETC Group's leadership position in European domiciled cryptocurrency-backed securities."

BTCE has a lot of advantages with support of many world class Authorised Participants (APs) and Market Makers, experienced in cryptocurrency markets as well as the ETP markets. For example, the APs can ensure on-exchange liquidity and tight spreads, which enables traders to purchase in all sizes, not having to worry about market impact.

Additionally, products of ETC Group offers several benefits over investing directly in the digital assets they track. The ETCs, when traded on regulated markets, can be bought and sold in the same way as trading conventional shares through online broker platform or bank. Also, identical regulatory protections can be ensured. Futhermore, investors do not require a digital wallet or related technical knowledge since the underlying collateral is securely stored in institutional-grade custody.

Cboe Europe is the largest pan-European stock exchange by market share and value traded, whose parent company Cboe Global Markets has expanded its Implied Correlation Index Suite​ with addition of eight new indices most recently. 

In May, Australia's First Spot Bitcoin ETF has been Available on Cboe Australia, as Fazzaco reported previously.