The two exchange traded products invest in bitcoin and ethereum
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Swiss cryptocurrency investment manager Ficas and its subsidiary Bitcoin Capital have jointly listed two actively managed digital assets exchange traded products on local stock exchange Six.
Their new 1 Ficas Active Bitcoin and 1 Ficas Active Ethereum ETPs, which invest directly in their respective physical cryptocurrencies, are available to institutional and private investors in Switzerland, Liechtenstein and the EU, except Hungary.
Bitcoin Capital said the listings allowed investors to easily buy the new ETPs via their banks or brokers “just as they do with other listed financial investments, such as equities or bonds”.
Luca Schenk, chair of Bitcoin Capital, said crypto assets would “soon be part of the diversification strategy of many investment portfolios”.
He added that his company’s two new products, which focus on the two most relevant cryptocurrencies, “may, through their active management, improve the overall portfolio risk by reducing underlying volatility”.
Bitcoin Capital regards itself as a pioneer in innovative investment products, having launched what it claims was the world’s first listed actively managed crypto ETP, the 15 Ficas Active Crypto ETP, last year.
The company said it was already planning the launch of additional new crypto investment products, adding that the “crypto journey will be far from over”.
Last week US firm Invesco became the largest asset manager to launch a bitcoin ETP in Europe, while smaller domestic rival WisdomTree rolled out three cryptocurrency basket ETPs for European investors earlier this week.
Fidelity launched a spot bitcoin ETF in Canada last week and Ignites Europe previously reported that UBS and State Street Global Advisors were also looking into the potential for products to offer exposure to cryptocurrencies, such as bitcoin.
*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. It covers everything from new product launches to regulations and industry trends. Trials and subscriptions are available at igniteseurope.com.
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