BTCetc Exchange Traded Bitcoin (BTCE) reaches USD90million AUM in less than five months since launch

BTCetc Bitcoin Exchange Traded Crypto (ticker BTCE) has reached USD90million assets under management (AuM) since it listed on Deutche Boerse’s Xetra in late June 2020.

The exchange traded cryptocurrency tracks the price of Bitcoin and is 100 per cent physically backed, providing investors with a safer and transparent way to gain exposure to Bitcoin. BTCE was the world’s first central counterparty cleared Bitcoin exchange traded product  It is distributed and marketed by HANetf.

Bradley Duke, CEO of ETC Group, says: “We worked really hard to engineer a product that provides investors with a safer and more transparent way to gain exposure to Bitcoin. By reaching the USD90 million AUM milestone in just over four months, we feel that the investment community has recognised the quality of BTCE’s investor protections and trading experience which has resulted in over 1 million shares of BTCE being traded in a single day on  Deutsche Borses’s Xetra. Investors also like the optionality of being able to redeem BTCE for actual Bitcoin if they so choose.

On why Bitcoin is striking a chord with investors right now, Bradley says: “Bitcoin is increasingly being viewed as a safe haven asset, especially in times of unprecedented expansion of the money supply in major currencies like the US dollar and Euro in order to fund the massive stimulus packages being approved by governments to assist economies hit hard by Covid-19. Bitcoin is being correctly seen as hard currency with capped supply. BTCE gives investors access to Bitcoin on a regulated exchange without the headaches of needing to find and maintain secure storage for Bitcoin as BTCE securities are stored safely in the investors brokerage account.”