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Bitcoin ETP Trading at Levels Seen by Top European ETFs: FT

Only one major ETF was trading at volumes slightly higher than the BTCetc ETP in the first 11 days of January, says the FT.

Updated Sep 14, 2021, 10:57 a.m. Published Jan 15, 2021, 11:01 a.m.

A bitcoin exchange-traded product (ETP) from ETC Group has recently been trading at volumes normally seen by the most popular European exchange-traded funds (ETFs).

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Data shared by Deutsche Börse showed that, in the first 11 days of January, the average daily order book turnover for the BTCetc ETP (BTCE) reached €57 million ($69 million), reports the Financial Times on Friday.
The most highly traded exchange-traded product on the stock exchange – the iShares Global Clean Energy Ucits ETF (INRG) – was ahead of the BTCE by only €1 million ($1.2 million).
The bitcoin product, first listed last June, was trading with volumes far above all the other 1,800 ETPs listed on the German bourse.
The structure of the bitcoin ETP has “increased the appeal of cryptocurrency investments for institutional investors,” who can trade the digital asset without having to go through the complexities of directly owning the digital assets, Stephan Kraus, head of Deutsche Börse’s ETF segment, told the FT.
On Wednesday, the same bitcoin ETP was listed on Swiss stock exchange SIX, further expanding its reach.

Europe ETFs Etc group CoinFlash ETPs

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.