The Deutsche Börse stock exchange will allow trading with Bitcoin ETP

The Deutsche Börse stock exchange will allow trading with Bitcoin ETP

ETC Group is close to launch the first cryptocurrency exchange-traded product (ETP) on the German stock exchange.

0

10 Jun 2020 , 10:41 @ Matey Salt

The Deutsche Börse stock exchange will allow trading with Bitcoin ETP

ETC Group is close to launch the first cryptocurrency exchange-traded product (ETP) on the German stock exchange. In cooperation with Deutsche Börse Group, this product should be listed on the Xetra server via the white label platform HANetf, informs etfstream.

Once the company receives approval from financial regulator BaFin, BTCE will be launched first, most likely by the end of this month.

BTCE stands for BTCetc Bitcoin Exchange Traded Crypto, which tracks the price of bitcoin and is physically supported with the total expense ratio (TER) 2%.

Germany did allow crypto companies to expand its services from this year, mainly after March 2. when BaFin officially recognized cryptocurrencies as financial instruments. Read here

Bradley Duke, CEO of ETC Group, said:

The crypto sector has been held back by concerns about complexity, accessibility and governance. With BTCE, we are transporting bitcoin into the fold of mainstream, regulated financial markets. Investors get the benefits of trading and owning bitcoin through a regulated security while having the optionality of redeeming bitcoin if they choose.

BTCE will be later accessible also in the UK, Italy and Austria.

Follow our social media and get news on time

    795 Views
    0
    Like
    Like Love Haha Wow Sad Angry
    11

    Publication author

    offline 11 hours

    Matey Salt

    3
    Comments: 0Publics: 178Registration: 04-02-2020
    Author Image
    June 10, 2020
    Authorization
    *
    *
    Registration
    *
    *
    *
    Password generation