ETC Group Says Greater Liquidity Coming for Bitcoin based BTCE Traded on XETRA

ETC Group reports that it has signed a series of “Authorised Participants” to support the liquidity of BTCetc Bitcoin Exchange Traded Crypto (BTCE). Launched in June 2020, BTCE became the first Bitcoin-based exchange-traded product to list on XETRA in Germany.

BTCE is 100% physically backed by Bitcoin and seeks to offer investors a way to gain exposure to the most popular cryptocurrency. BTCE is issued by ETC Group and distributed via HANetf, a European white-label ETF and ETC platform.

ETC Group reports that XTX Markets, Flow Traders, and Jane Street are actively making markets on XETRA to bring liquidity, tight trading spreads and execution efficiencies for BTCE.

ITI Capital, an FCA regulated prime broker, has also been signed up to act as Authorized Participant.

Since the launch of BTCE on Xetra on 18th June, BTCE AUM has grown to $53 million.

Bradley Duke, CEO of ETC Group, said the listing of BTCE on XETRA, and the calibre of the Authorized Participants shows how Bitcoin has grown up to become a significant and serious institutional asset.

“Our goal is to centralise fragmented Bitcoin liquidity on XETRA, by bringing a robust and time-tested product structure to this new asset class along with the same regulatory protections of buying any other listed security. We expect to add to this already impressive line-up over time to further improve the trading experience for investors.”

Michael Lie, Head of Digital Assets, Flow Traders said they are delighted to extend their working relationship with HANetf alongside ETC Group on the launch of Europe’s first centrally cleared Bitcoin ETC on XETRA.

Critics of single asset ETPs claim these funds simply add fees when investors may buy the asset directly on an exchange. Supporters of a single asset, or BTC based ETP, believe it will open up the market to a far wider audience as it creates a trusted path to invest in crypto.


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