Bitcoin Capital AG, a Swiss cryptocurrency investment company, is launching multiple cryptocurrency ETPs in the Swiss stock exchange SIX as more and more companies look to expand their product offerings in Europe.
The two funds: the FiCAS Active Bitcoin ETP (BTCB) and FiCAS Active Ethereum ETP (ETHB), will be actively managed by crypto asset manager FICAS AG and backed by physical bitcoins and ethers. The active management will protect ETPs from negative price fluctuations and reduce volatility.
Launching on the Swiss stock market, institutional, professional, and private investors in Switzerland, Liechtenstein, and the European Union (excluding Hungary) will have access to the ETPs.
“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,” said Dr. Luca Schenk, Chairman of Bitcoin Capital AG, in the company’s press release. He added:
“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.”
While spot crypto ETFs have increasingly become popular in Canada and the European Union, the same cannot be said for the United States. US regulators are still contemplating any launch of spot Bitcoin ETFs despite dozens of applications sitting at its office. So far, the SEC has rejected two spot Bitcoin ETF applications, WisdomTree Bitcoin ETF and VanEck Bitcoin ETF.