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ETC Group’s Bitcoin ETC surpasses US$1.3 Billion AUM as the total European market for comparable crypto exchange traded products exceeds $4 billion1
LONDON, October 18, 2021--(BUSINESS WIRE)--ETC Group (www.etc-group.com), Europe’s leading specialist provider of institutional-grade digital asset-backed securities, announces that its total Assets Under Management (AUM) has reached US$1.5 billion2, with its Bitcoin exchange traded product (BTCE) now the world’s largest physically backed single cryptocurrency ETP with over US$1.3 billion AUM3.
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World’s largest 100% collateralized (physically backed) Bitcoin ETPs (Graphic: Business Wire)
This leadership position in the rapidly growing digital asset security market comes only 16 months after the launch of ETC Group’s first product, BTCetc - ETC Group Physical Bitcoin (BTCE), on Deutsche Börse’s Xetra exchange. Research released this month by CryptoCompare also shows that BTCE is the most traded listed crypto ETP with average daily trading volumes of US$26.3 million, more than seven times its nearest competitor4.
ETC Group has pioneered the digital asset management industry by providing institutional quality, 100% physically backed, high liquidity digital asset backed securities. With a Germany domiciled issuer, its Bitcoin product BTCE was the first crypto product to be centrally cleared when it listed on XETRA5. ETC Group was also the first company to make its leading Bitcoin ETC carbon neutral, and the first issuer to list a Crypto ETP on a UK stock exchange. Recently, BTCE became the underlying product of Europe’s first Futures contracts announced by Eurex, Europe’s largest derivatives exchange.
Bradley Duke, CEO of ETC Group said: "ETC Group’s leadership position is testament to the focus we have on delivering the highest quality crypto exchange traded products, and ensuring that we partner with the industry’s leading market makers, custodians, and exchanges to provide both retail and institutional investors highly liquid, transparent, regulated and secure exposure to the world’s leading cryptocurrencies. We’re delighted to be leading the charge for Europe, whose regulatory regime, multiple exchanges across different countries, and investor awareness has put it at the forefront of exchange traded cryptocurrency investment."
ETC Group now lists Bitcoin, Ethereum, Litecoin and Bitcoin Cash ETCs across multiple exchanges in Europe, and is planning to expand its suite of products to meet investor demand for digital asset-backed investments on Europe’s financial markets.
Cryptocurrencies are highly volatile, and your capital is at risk. Disclaimer: https://bit.ly/etcdisc
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NOTES TO EDITORS
About ETC Group
ETC Group (www.etc-group.com) develops innovative digital asset-backed securities including BTCetc (BTCE) and ETHetc (ZETH) which are listed on European exchanges including XETRA, Euronext, SIX, AQUIS UK and Wiener Börse. ETC Group launched the world’s first centrally cleared Bitcoin exchange traded product (ETP) in June 2020 on Deutsche Börse XETRA, Europe's largest ETF trading venue. ETC Group has continued to expand its suite of institutional-grade cryptocurrency backed ETPs, providing investors the opportunity to gain exposure to Bitcoin, Bitcoin Cash, Ethereum and Litecoin based digital assets on major European stock exchanges. ETC Group’s securities are marketed by HANetf.
1Based on Bloomberg data, 18.10.2021
2US$1.642 billion | Based on Bloomberg data, 18.10.2021
3US$1.378 billion | Based on Bloomberg data, 18.10.2021
4Source CryptoCompare research: https://data.cryptocompare.com/reports/digital-asset-management-review-september-2021
View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005644/en/
Paul Cockerton, Clarity PR for ETC Group