Bitcoin Capital AG released two new exchange-traded products on the SIX Swiss Exchange: the FiCAS Active Bitcoin ETP (BTCB) and FiCAS Active Ethereum ETP (ETHB), which are actively managed by FICAS AG.
Institutional investors, professional, and private investors in Switzerland, Liechtenstein, and the European Union (excluding Hungary) can now invest in the new offerings via their bank or broker just as they would with other listed financial assets such as equities or bonds.
“Our purpose is to grant investors safe and easy access to digital assets and are convinced that crypto assets will soon be part of the diversification strategy of many investment portfolios,” says Dr. Luca Schenk, chairman of Bitcoin Capital AG. “The two new products with the most relevant cryptocurrencies as underlying may, through their active management, improve the overall portfolio risk by reducing underlying volatility.”
Related: Swiss SIX Exchange Lists Actively Managed Bitcoin ETP
The expansion of Bitcoin Capital AG's new services is intended to appeal to a wider range of investors and comes at a time when interest in cryptocurrencies is growing. The price of Bitcoin (BTC) has risen to all-time highs recently, reaching $68,789.63, while Ether (ETH) is seeing greater attention as well.
Bitcoin Capital AG is a family office and FiCAS AG subsidiary based in Zug, Switzerland. In July, Bitcoin Capital AG introduced the actively managed Bitcoin ETP “Bitcoin Capital Active ETP” on the SIX Swiss Exchange.
Related: Exchange-traded products abound, but crypto is still waiting for an ETF
An ETP is a derivative security that trades based on investment instruments such as a commodity, currency, share price, or interest rate, as opposed to crypto ETFs, which are 100% backed by the assets they are tracking.
Since the world's first crypto ETP was introduced on the Swiss SIX Exchange in late 2018, several crypto ETPs have been developed. Amun's Crypto Basket ETP (HODL), which tracks five major cryptos, was first listed in 2018. In Feb 2021, the exchange added a Polkadot ETP.