SIX Swiss Exchange, the largest stock exchange in Switzerland, has just added a Bitcoin exchange traded product (ETP) from digital asset management company CoinShares to its list of traded instruments, Bloomberg reports.
One of the features of the instrument, which operates under the ticker BITC, is that it is physically supported by 0.001 Bitcoins.
The custodian of the cryptocurrency is the platform Komainu, launched by CoinShares in association with the Japanese financial holding company Nomura and the hardware wallet maker Ledger. CoinShares chief revenue officer Frank Spiteri said:
"A lot of institutional clients have a very strong due-diligence process, and we wanted to bring to market a best-in-class product to embrace that demand. We are ready, as of January, to embrace the forthcoming demand from institutional clients."
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According to Meltem Demirors, chief strategy officer at CoinShares, the volume of assets under Bitcoin ETP management amounts to $200M.
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