Deutsche Boerse today announced the first digital asset to list on Xetra. The BTCetc, Bitcoin Exchange Traded Crypto (BTCE), issued by ETC Issuance – is the world’s first centrally cleared Bitcoin tracker. The Exchange Traded Note (ETN) was admitted to the regulated market of the Frankfurt Stock Exchange (FWB) and is fully collateralised by bitcoin.
“With the new product, investors can easily participate in the performance of the Bitcoin price without having to use unregulated crypto-trading platforms. Separate infrastructure, such as a crypto wallet, is not required,” says Michael Krogmann, board member of the FWB. “With the world’s first centrally cleared Bitcoin ETN, we are also setting new standards in the post-trade processing of products on crypto-currencies.”
Clearing is handled by Eurex Clearing, the central counterparty of Deutsche Boerse Group, which reduces settlement risks for investors.
Bradley Duke, CEO of ETC Group, adds: “BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of bitcoin. Investors get the benefits of trading and owning bitcoin through a regulated security, while having the optionality of redeeming bitcoin if they choose. We are proud to be listing this product on one of Europe’s top stock exchanges providing people with a safer, better way to invest in bitcoin.”