First Actively Managed Bitcoin ETP Listed on SIX Exchange

The SIX Swiss Exchange, Switzerland’s largest stock exchange, added to its list of tradable instruments the Bitcoin Capital Active ETP, which actively rebalances Bitcoin against 14 altcoins.

Swiss SIX Exchange, one of the world’s largest stock exchanges, Lists Bitcoin Capital Actively Managed Crypto ETP https://t.co/4hQSLX2Pjn

— FiCAS (@Ficas_ltd) July 28, 2020

A distinctive feature of the new ETP, which trades under the ticker BTCA, is that it is denominated in fiat currency. The notional value of one lot is 100 Swiss francs. Investors do not participate in the management of the instrument.

Matteo Rattaggi, chair of FiCAS’s board of directors, объяснил that the BTCA development is driven by a desire to provide liquidity, address retail investor concerns and satisfy portfolio rebalancing requirements. FiCAS is a licensed cryptocurrency investment management firm.

Rattaggi compared BTCA to traditional the form of fiduciary management of a client investment portfolio, in which the managing company is endowed with the right to make independent decisions about portfolio management‘>дискреционным управлением портфелем. He believes such a form of ETP is well suited for the emerging crypto market:

«Probably, an actively managed ETP is better suited to the market than a passive ETP due to a greater focus on active risk management», — пояснил Маттиа Раттаджи.

The list of cryptocurrencies in Bitcoin Capital Active ETP is determined by SIX. It includes assets with their own blockchains, high market capitalization and significant liquidity. Private cryptocurrencies are not included in the new financial product.

Earlier in the year SIX added a bitcoin ETP that allows bets on a decline.

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