Bitcoin ETP to be launched on Swiss Stock Exchange by CoinShares. According to a Bloomberg report, CoinShares announced Monday that it will be launching an exchange-traded bitcoin product (ETP) on Swiss stock exchange SIX.
Today, the ETP is expected to go live and will be listed under the BITC ticker. The assets of the product will be owned by Komainu, a company involving Nomura Holdings, CoinShares and Ledger that was launched around a year ago.
BITC will charge a 0.98% expense ratio and will be physically backed by bitcoin. ETC Group, a digital asset-backed securities developer announced last week that it would list a physically backed bitcoin ETP on SIX.
[image: Andre Francois McKenzie]