According to the latest reports, ETC Group has announced it is planning to expand its offerings in other regions and countries. ETC Group, a major cryptocurrency investment manager has announced that it is planning to launch its exchange-traded product (ETP) exposure in the UK.
The reports suggest that ETC Group has decided to do this after acquiring and thriving under the rules imposed by the Swiss markets. After gaining exposure in the exchange-traded product sector in Switzerland, the company is set to launch its services in the United Kingdom.
The ETC Group is hopeful that the experience it has gained through the Swiss regulations would help it expand its services across the British regulations.
The ETC Group has announced that the name of the new exchange-traded product would be ETC Group Physical Bitcoin ETP. The company has revealed that the new ETP would be trading under the BTCE symbol.
The reports suggest that the new ETC Group Physical Bitcoin ETP would start trading through Paris and London’s Aquis Exchange. While announcing details around the new exchange-traded product (ETP) on Tuesday, June 1, ETC Group has also revealed that it will be launched on June 7.
Once ETC Group Physical Bitcoin ETP is launched, it would be the first-ever ETP for cryptocurrencies launched in the United Kingdom for trading.
The CEO of ETC Group, Bradley Duke also talked about the significance of the exchange-traded product (ETP). Duke stated that the investors have already started investing in the ETP with aim of fighting off inflation or at least using the ETP as a hedge against inflation.
Duke stated that the ETC Group is responsible for offering investors three different kinds of exchange-traded products. At present, it is offering Litecoin (LTC), Ether (ETH), and Bitcoin (BTC) exchange-traded products for the relevant cryptocurrencies.
Duke stated that their products are completely supported and backed by 100% physical cryptocurrency exchange-traded products (ETPs). Among all other ETPs, the Bitcoin (BTC) ETP is the one ETC Group considers as its flagship product for investors.
Now that the ETC Group is expanding its services and jurisdictions to the United Kingdom, it has decided to do it with its flagship product. The company will be offering its ETP for Bitcoin (BTC) and based on the amount of success and adoption, it would proceed with offering more ETPs.
Duke clarified that Bitcoin (BTC) currently has the most amount of exposure among the rest of the cryptocurrencies. Therefore, investors are willing to put their trust in Bitcoin (BTC) more than any other cryptocurrency.
This is the reason why ETC Group found ETP for BTC to be the most logical and profitable choice to gain more exposure in the UK market.