Fidelity Investments has launched a physical bitcoin ETP in Europe


Constancy Investments has launched a bodily bitcoin exchange-traded product (ETP) in what it says is the rising demand for digital belongings amongst European traders. The fund is listed on Frankfurt’s Xetra and shall begin buying and selling on Zurich’s Six just a few weeks from now.

Constancy’s ETP comes three months after Invesco launched its bitcoin ETP following the elevated curiosity for cryptocurrency investments amongst asset managers.

The ETP comes after Constancy Digital Property was awarded an official registration by the UK Monetary Conduct Authority for its digital buying and selling enterprise and belongings custody in late 2021.

Beforehand Constancy Digital Property was listed as a brief member on FCA’s register however has now been moved to the everlasting register of FCA.

In December 2021 Constancy Investments launched a Canadian-based bodily bitcoin ETF, which presently has about $30 million in belongings.

Constancy’s Bodily Bitcoin ETP

Constancy’s Bodily Bitcoin ETP shall be accessible to institutional {and professional} traders in Europe and shall be domiciled in Germany. Nonetheless, Constancy Digital Property, which is the digital belongings arm of Constancy Investments primarily based within the US shall be the custodian of the ETP.

The pinnacle of Constancy Investments Nick King stated that the launch of the ETP was an essential step within the firm’s ETP providing and the primary in providing digital belongings merchandise.

The ETP was launched with about $6 million price of belongings and shall have an ongoing cost of 0.75%.

Managing director for Europe at Constancy Christian Staub stated:

“Underlying distributed ledger know-how has the potential to revolutionize the monetary system over time and disrupt many components of the monetary world with profound implications for traders.”

Constancy Digital Property just lately performed a survey that confirmed that 70% of institutional traders regarded ahead to investing in digital belongings quickly. Additionally over 90% of those that participated within the survey stated that they need digital belongings that shall have an allocation inside the subsequent 5 years.



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