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Swiss Exchange Lists World's First Active Bitcoin ETP
FiCAS has listed the world's first actively managed bitcoin ETP on Switzerland's SIX exchange.
By Danny Nelson
Updated Sep 14, 2021, 9:36 a.m. Published Jul 28, 2020, 1:28 p.m.
Swiss crypto manager FiCAS AG on Tuesday unveiled what it called the first actively managed bitcoin exchange-traded product (ETP).
STORY CONTINUES BELOW
- FiCAS AG Chairman Mattia Rattaggi told CoinDesk his firm will manage a Bitcoin Capital Active ETP's portfolio of up to 15 altcoins as determined by market capitalization, liquidity and the rules of its host exchange, the SIX Swiss Exchange.
- Product managers will trade bitcoin against ETH, XRP, BCH, LTC, BNB, EOS, ADA, XLM, XTZ, TRX and exit to Swiss francs, euros and U.S. dollars, according to a July 13 prospectus. Rattaggi said the list could shift based on coin performance.
- Privacy coins will not be allowed in the basket, the prospectus said.
- Bitcoin Capital AG is issuing the ETP.
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