{"id":34965,"date":"2021-01-19T10:42:01","date_gmt":"2021-01-19T08:42:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34965"},"modified":"2025-08-28T23:06:38","modified_gmt":"2025-08-28T20:06:38","slug":"coinshares-to-launch-a-physically-backed-bitcoin-etp-on-six","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinshares-to-launch-a-physically-backed-bitcoin-etp-on-six\/","title":{"rendered":"CoinShares to launch a physically backed Bitcoin ETP on SIX"},"content":{"rendered":"<p>The SIX Swiss Exchange, Switzerland\u2019s largest stock exchange, has added a bitcoin-based exchange-traded product from digital-asset manager CoinShares to its list of tradable instruments.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">massive congrats to our team <a href=\"https:\/\/twitter.com\/CoinSharesCo?ref_src=twsrc%5Etfw\">@CoinSharesCo<\/a> \u2014 starting 2021 off with a \ud83e\udde8 bang \ud83e\udde8<\/p>\n<p>our newest exchange traded product (ETP) line launches tomorrow w $200M in AUM<\/p>\n<p>thanks <a href=\"https:\/\/twitter.com\/VildanaHajric?ref_src=twsrc%5Etfw\">@VildanaHajric<\/a> for covering the story<a href=\"https:\/\/t.co\/XoLSLmZVCW\">https:\/\/t.co\/XoLSLmZVCW<\/a><\/p>\n<p>\u2014 Meltem Demirors (@Melt_Dem) <a href=\"https:\/\/twitter.com\/Melt_Dem\/status\/1351241569697992705?ref_src=twsrc%5Etfw\">January 18, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The instrument carries the ticker BITC. Its hallmark is physical backing of 0.001 bitcoin ($36.5 at the time of writing).<\/p>\n<p>The custodian of the cryptocurrency is the Komainu platform, launched by CoinShares in partnership with the Japanese financial holding company Nomura and hardware-wallet maker Ledger.<\/p>\n<blockquote>\n<p>&#8220;Many institutions require thorough legal scrutiny. We aimed to bring to market the best-in-class product to meet these requirements,&#8221; said CoinShares Chief Commercial Officer Frank Spiteri.<\/p>\n<\/blockquote>\n<p>[simple_tooltip content=&#8217;the expense ratio (the costs associated with managing an investment fund, deducted from investors\u2019 returns)&#8217;]Expense ratio[\/simple_tooltip] on the bitcoin ETP is 0.98%.<\/p>\n<p>According to CoinShares\u2019 Chief Growth Officer Meltem Demirors, assets under management for the bitcoin ETP stand at $200 million.<\/p>\n<p>According to Bloomberg, the firm manages $4 billion of client assets, quadrupling the figure since August 2020.<\/p>\n<p>Earlier in December, Demirors said that <a href=\"https:\/\/forklog.com\/en\/news\/opinion-absence-of-bitcoin-in-a-portfolio-could-jeopardise-a-fund-managers-career\">times have changed<\/a>, and now the absence of bitcoin in a portfolio could jeopardize a fund manager\u2019s career.<\/p>\n<p>Subscribe to ForkLog News on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SIX Swiss Exchange, Switzerland\u2019s largest stock exchange, has added a bitcoin-based exchange-traded product from digital-asset manager CoinShares to its list of tradable instruments.<\/p>\n","protected":false},"author":1,"featured_media":34966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1191,914,1211],"class_list":["post-34965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinshares","tag-six-swiss-exchange","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=34965"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34965\/revisions"}],"predecessor-version":[{"id":34967,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34965\/revisions\/34967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/34966"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=34965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=34965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=34965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}