Swiss Exchange Lists World’s First Active Bitcoin ETP
Swiss Exchange Lists World’s First Active Bitcoin ETP
Swiss crypto manager FiCAS AG on Tuesday unveiled what it called the first actively managed bitcoin exchange traded product (ETP).
- FiCAS AG Chairman Mattia Rattaggi told CoinDesk that his firm will manage a Bitcoin Capital Active ETP’s portfolio of up to 15 altcoins as determined by market capitalization, liquidity and the rules of its host exchange, the SIX Swiss Exchange.
- Product managers will trade bitcoin against ETH, XRP, BCH, LTC, BNB, EOS, ADA, XLM, XTZ, TRX and exit to fiats CHF, EUR and USD, according to a July 13 prospectus. Rattaggi said the list could shift based on coin performance.
- Privacy coins will not be allowed in the basket, the prospectus said.
- Bitcoin Capital AG is issuing the ETP.
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