Pi Capital
Date of publication: 10 June 2020
Deutsche Börse Launches New Bitcoin-Related Exchange Product
The British company ETC Group will carry out the listing of the Bitcoin-linked exchange product Bitcoin ExchangeTraded Crypto (BTCE) on the Xetra electronic trading platform of the Deutsche Börse exchange and will act as the central counterparty for it. This approach will allow customers to avoid the risks of default by the other party to the transaction, as the ETC Group will take them.
The exchange product will help participants in the regulated market gain access to bitcoin and will be fully provided with cryptocurrency. Access to it will be provided through the HANetf platform, on which various ETFs and ETPs are already presented. The listing of the instrument should take place before the end of the month.

According to the company, BTCE received the approval of the German financial regulator BaFin. Bitcoin will be stored in an institutional-level regulated service provided by BitGo. Each BTCE stock will give its holders the right to a predefined amount of bitcoin (0.001 BTC). It can be repaid with the help of both the traditional currency and Bitcoin itself.

“BTCE provides the transparency and investor protection that regulators and institutional investors require from Bitcoin,” said Bradley Duke, CEO of ETC Group. - With BTCE, we bring Bitcoin to the standards of open, regulated financial markets. Investors get the benefits of trading and owning bitcoin through an adjustable security, while being able to get bitcoin if they want to. ”

According to a press release, this is the first cryptocurrency product on the Xetra platform. In February, it became known that the Stuttgart Stock Exchange will offer cryptocurrency storage services to institutional investors.

Alexey Shternshis
Pi Capital Union

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