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Swiss Firm Launches 'No-Fee' Bitcoin Exchange-Traded Product on Nordic Growth Market
Swiss-based Valour says its bitcoin ETP is the first with no management fees.
Updated Dec 6, 2022, 8:22 p.m. Published Dec 3, 2020, 10:50 a.m.
Switzerland-based Valour has launched what it claims is the first bitcoin exchange-traded product (ETP) without any management fees.
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- Listed on the Stockholm-based Nordic Growth Market, the Bitcoin Zero ETP brings investors exposure to bitcoin in a similar way to exchange-traded funds and shares, Valour said in an announcement.
- While trading and owning the investment product will not incur management fees, the firm said it will incur "investors' usual brokerage fees."
- The ETP structure is a type of security with a value derived from other investment vehicles – such as currencies, commodities or, in this case, bitcoin – to which it is benchmarked.
- "The launch of the Bitcoin Zero ETP ... marks a significant step towards the mainstream adoption of digital assets, enabling investors to diversify their portfolios and gain exposure to bitcoin, whose value has almost tripled this year," said Johan Wattenström, Valour's founder and director.
- Europe has seen a number of crypto ETP listings. Earlier this year, 21Shares, a Swiss-based product provider formerly known as Amun, launched a new bitcoin ETP on Xetra, Deutsche Boerse’s electronic trading venue.
- Another launched in October 2019, also from 21Shares, used Binance’s native token BNB as the underlying asset.
See also: Swiss Startup Amun Wins Regulatory Approval to Sell Crypto-ETPs to EU Retail Investors
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Що варто знати:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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