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Swiss Firm Launches 'No-Fee' Bitcoin Exchange-Traded Product on Nordic Growth Market
Swiss-based Valour says its bitcoin ETP is the first with no management fees.
Switzerland-based Valour has launched what it claims is the first bitcoin exchange-traded product (ETP) without any management fees.
STORY CONTINUES BELOW
- Listed on the Stockholm-based Nordic Growth Market, the Bitcoin Zero ETP brings investors exposure to bitcoin in a similar way to exchange-traded funds and shares, Valour said in an announcement.
- While trading and owning the investment product will not incur management fees, the firm said it will incur "investors' usual brokerage fees."
- The ETP structure is a type of security with a value derived from other investment vehicles – such as currencies, commodities or, in this case, bitcoin – to which it is benchmarked.
- "The launch of the Bitcoin Zero ETP ... marks a significant step towards the mainstream adoption of digital assets, enabling investors to diversify their portfolios and gain exposure to bitcoin, whose value has almost tripled this year," said Johan Wattenström, Valour's founder and director.
- Europe has seen a number of crypto ETP listings. Earlier this year, 21Shares, a Swiss-based product provider formerly known as Amun, launched a new bitcoin ETP on Xetra, Deutsche Boerse’s electronic trading venue.
- Another launched in October 2019, also from 21Shares, used Binance’s native token BNB as the underlying asset.
See also: Swiss Startup Amun Wins Regulatory Approval to Sell Crypto-ETPs to EU Retail Investors
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
