In this product overview, we look at the 21-Shares Bitcoin ETP
For more information visit 21Shares' website: https://21shares.com/
It was the first bitcoin ETP available on a regulated exchange and is traded on one of Europe’s largest exchanges. It is supported by a network of expert ETF Authorised Participants and MarketMakers, experienced in cryptocurrency markets as well as the ETP market.
When buying a crypto ETP using a conventional broker, investors benefit from better security, with reduced settlement risk from a centrally-cleared product. They do not have to worry about managing crypto wallets nor transfer money to unfamiliar or unknown counterparties. Plus this type of crypto product is often eligible for tax-advantage accounts such as a SIPP or ISK.
The underlying asset, in this case bitcoin, is purchased by the market-makers who quote the ETP on the orderbook at the moment investors purchase the product. This means 21-Shares hold 100% of the amount of bitcoin needed at all times.
The 21-Shares Bitcoin ETP has a total expense ratio of 1.49% and is available on the SIX Swiss Exchange and Deutsche Boerse Xetra. It is available in U.S. Dollars, Euros, Swiss Francs, and British pounds - and is domiciled in Switzerland.
21-Shares uses reliable, vested, third-party vendors to monitor the accuracy of the issuer's financial issuance program, such as independent administrators and trustees, independent calculating agents, the market-makers - which provide live quotes on the secondary market where the ETPs are listed - and regulated crypto-custodians to hold the bitcoin securely on their behalf.
This product is suitable for both retail and institutional investors looking to invest in a secure and cost-effective environment that they are all familiar with.
Visit 21shares.com to find out more about this ETP and their other products, and remember, as with any crypto investments, do you homework first and stay in tune with the markets.
As ever don't forget to visit ETFstream.com for the latest news and events in the sector