Bitpanda, a cryptocurrency investment platform based in Vienna, has launched its first exchange-traded cryptocurrency note (ETC). The note will track the price of bitcoin and be traded in euros.
Bitpanda, which has a valuation of $4.1 billion, said the Bitpanda Bitcoin ETC is listed on Deutsche Boerse’s Xetra market. It plans to add more crypto ETC products in 2022.The Bitpanda Bitcoin ETC is physically backed by bitcoin kept in cold storage with a regulated custodian. The product is targeting investors looking to “diversify their portfolio and get access to the world of cryptocurrencies,” Bitpanda said.This year has been characterized by the introduction of physical cryptocurrency-backed exchange-traded products in many jurisdictions, though not in the U.S. Xetra has hosted the introduction of products from 21 Shares, ETC Group and WisdomTree.Bitpanda’s first ETC is another diversification move for the company founded as a bitcoin exchange in 2014. It has since expanded beyond crypto to offer trading in stocks, precious metals and exchange-traded funds (ETFs) through a mobile app. It has more than 3 million users.”Issuing an entirely EU [European Union] based Bitcoin ETC with euro as base currency, we are able to offer exposure to an alternative asset class that we feel is ripe for opportunity in the current market environment,” CEO Eric Demuth said in a press release.
Read more: Crypto Exchange Bitpanda Raises $263M at $4.1B Valuation
Read MoreFeedzy
Bitpanda, a cryptocurrency investment platform based in Vienna, has launched its first exchange-traded cryptocurrency note (ETC). The note will track the price of bitcoin and be traded in euros.
Bitpanda, which has a valuation of $4.1 billion, said the Bitpanda Bitcoin ETC is listed on Deutsche Boerse’s Xetra market. It plans to add more crypto ETC products in 2022.The Bitpanda Bitcoin ETC is physically backed by bitcoin kept in cold storage with a regulated custodian. The product is targeting investors looking to “diversify their portfolio and get access to the world of cryptocurrencies,” Bitpanda said.This year has been characterized by the introduction of physical cryptocurrency-backed exchange-traded products in many jurisdictions, though not in the U.S. Xetra has hosted the introduction of products from 21 Shares, ETC Group and WisdomTree.Bitpanda’s first ETC is another diversification move for the company founded as a bitcoin exchange in 2014. It has since expanded beyond crypto to offer trading in stocks, precious metals and exchange-traded funds (ETFs) through a mobile app. It has more than 3 million users.”Issuing an entirely EU [European Union] based Bitcoin ETC with euro as base currency, we are able to offer exposure to an alternative asset class that we feel is ripe for opportunity in the current market environment,” CEO Eric Demuth said in a press release.
Read more: Crypto Exchange Bitpanda Raises $263M at $4.1B Valuation
BTC held near $65,000 even as Nvidia and AI stocks fell sharply. This week's Fed…
Bitcoin Magazine Bitcoin ETFs Bled Nearly Half a Billion Dollars End of Last Week, Reversing…
Bitcoin Magazine Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock Bitcoin treasury Strategy…
The Ethereum treasury company added nearly 10,000 ETH while expanding its stock buyback, citing ether…
The put/call ratio has fallen to about 0.52 from 0.76 in late June, and one-week…
The vast majority of the activity was concentrated in BlackRock’s IBIT product accounting for nearly…