ETC Group Announces Debut of Bitcoin Cash ETP
ETC Group and white-label ETF provider HANetf are introducing a bitcoin cash exchange-traded product (ETP) on the Deutsche Boerse.
The ETC Group Physical Bitcoin Cash ETP (BTCH), which is physically backed, will debut on September 21st with a total expense ratio (TER) of 1.95 percent.
The technical hurdles connected with cryptocurrency, such as setting up a wallet or trading on unregulated exchanges, are removed when trading bitcoin through an ETP framework.
ETP was created in response to growing institutional investor demand, and its listing in Germany gives investors access to “some of the most crypto-friendly tax laws in mainland Europe.”
Bitcoin cash is a variant of the original bitcoin that has gained global merchant adoption as a cross-border payment instrument that combines “cheap and rapid transactions” with blockchain’s “security and transparency.”
PayPal and Venmo chose bitcoin cash as their payment method last year.
“We expect BTCH to prove popular with professional investors who want a cleaner, simpler, and more secure way to gain exposure to the booming investment universe of digital assets,” said Bradley Duke, CEO of ETC Group.
The 21Shares Ethereum ETP (21XE) and 21Shares BCH ETP (21XC), the world’s first centrally cleared ethereum and BCH ETPs, were launched on the Frankfurt Stock Exchange in March.
The BTCetc Bitcoin Exchange Traded Cryptocurrency (BTCE), the ETC Group Physical Ethereum ETP (ZETH), and the ETC Group Litecoin ETC (ELTC), Europe’s second litecoin ETP, are currently available from ETC Group.
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