Bitwise Expands Crypto Access on LSE
Bitwise Lists Four Crypto ETPs on London Stock Exchange
Bitwise, a leading digital asset manager, has expanded its reach into the European institutional market by listing four crypto Exchange-Traded Products (ETPs) on the London Stock Exchange (LSE). This move aims to provide efficient and liquid investment solutions for institutional clients.
Key ETP Offerings:
- BTC1: Europe's cheapest Bitcoin ETP, boasting a 0.20% total expense ratio, ideal for cost-conscious institutional investors.
- BTCE (Bitwise Physical Bitcoin ETP): Europe's most liquid Bitcoin ETP, offering a five-year track record and narrow bid-ask spreads on XETRA.
- ZETH (Bitwise Physical Ethereum ETP): Provides Ethereum exposure with assets held in secure cold storage and protected by an independent trustee.
- ET32 (Bitwise Ethereum Staking ETP): Automatically collects staking rewards daily, offering operational efficiency and tight spreads.
Initially available to professional and wholesale institutional investors, these ETPs offer staking opportunities and eliminate the need for a crypto wallet. UK retail investors are currently excluded due to regulatory restrictions.
Bitwise's European Expansion and Acquisition of ETC Group
Bitwise's commitment to the European market is further solidified by its 2024 acquisition of ETC Group. This acquisition accelerates its European operations and has led to the launch of additional ETPs, including Bitwise Solana Staking ETP and Bitwise Aptos Staking ETP, catering to the growing demand for diversified digital asset exposure.
Investor Protection and Security:
Bitwise prioritizes investor protection. Its ETPs employ structures similar to precious metal ETCs, featuring independent trustees, audited processes, and physical redemption procedures to mitigate insolvency risks.
These ETPs are compatible with standard brokerage accounts, as well as tax-advantaged accounts like SIPPs and ISAs, providing UK investors with versatile tools for long-term financial planning.
The increasing competition in the European crypto ETP market, with players like BlackRock entering the space, underscores the growing institutional interest in regulated digital asset investments. Bitwise's focus remains on delivering secure, innovative, and efficient investment products for this growing market.
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