Another Bitcoin product traded on the stock exchange has reached the Swiss market. The physically secured Bitcoin ETP from Wisdom can now be traded on the SIX stock exchange. Asset manager WisdomTree has launched its first Exchange Traded Product (ETP). The “WisdomTree Bitcoin ETP ” is now listed on the SIX Swiss Exchange under the ticker symbol BTCW. BTCW enables institutional investors in particular to participate in the Bitcoin market without having to deal with the small crypto problem:
“The ETP allows investors to access Bitcoin without having to hold the crypto currency directly, store private access keys or interact in any way with the blockchain or digital currency infrastructure”,
is what the press release on the launch of the WisdomTree Bitcoin ETP says. Coinbase Custody is responsible for the custody of Bitcoin, which is acquired in the course of ETP trading.
BTCW represents the first trip into the crypto sector for the ETP provider. In 2003, the company launched the world’s first physically secured gold ETP. It is no coincidence that it is now Bitcoin’s turn. WisdomTree has been observing the Bitcoin & Co. market for quite some time, comments Alexis Marinof, head of Europe at WisdomTree. This has shown that digital assets have come to stay:
“We have been monitoring crypto currencies for some time and are pleased to provide investors with secure access to this evolving asset class. We have seen enough to believe that digital assets like Bitcoin are not a temporary trend and can play a role in portfolios”,
WisdomTree sees itself as a bridge builder between the blockchain world and the traditional investment sector, adds Rafi Aviav. Aviav is Head of Product Development, Capital Markets and Technology at WisdomTree. The ability to trade Bitcoin products in a regulated environment could well benefit the new asset class:
“Crypto currencies may be the next asset class to benefit from increased interest if they become accessible in an ETP structure. We have developed a solution that addresses investors’ difficulties in accessing digital assets and closes the gap [to] the blockchain”,