Swiss investment fund operator 21Shares will launch an Exchange Traded Product (ETP) for Bitcoin on the Aquis Exchange in the UK in mid-June.
21Shares (formerly Amun) said the Bitcoin ETP will launch in mid-June in partnership with ETF firm GHCO to act as liquidity provider for the product. According to the press release, the ETP will be cleared “in a similar fashion to an ETF” and will give UK institutional investors access to BTC through the regulated framework and structure they are used to.
So far, the UK has been cautious about approving cryptocurrency products. Since January, the UK’s Financial Conduct Authority (FCA) has banned cryptocurrency derivatives for retail investors, despite dissent from 97% of those discussing the ban.
“We worked with 21Shares on this project for several months. We are delighted to be able to meet the institutional demand for digital assets in the UK in this way, ”said Alasdair Haynes, CEO of Aquis Exchange.
The ETC Group will also launch a cryptocurrency ETP for UK investors on the Aquis Exchange this week. Clearing will be carried out by the SIX x-clear clearing center based in Switzerland. On June 1, 21Shares teamed up with WisdomTree, VanEck and the ETC Group to list the ETP on the Euronext Paris and Amsterdam stock exchanges.