The crypto firm ETC Group launched the first publicly traded Bitcoin product on a UK exchange.

The ETC Group’s ETP, BTCetc, is launched as institutional interest in digital currencies rises and the value of cryptocurrencies has continued its volatile upward trend since the pandemic began.

The ETP will debut for professional investors on June 7th on the Aquis Exchange in London and Paris, the firms said in a June 1st statement.

Clearing is carried out by SIX x-clear, which is part of the Swiss SIX Group, as the only central counterparty for clearing.

READAquis sees revenue beating estimates as Brexit trade shifts from London

“Investors are increasingly accepting digital assets as a bona fide asset class and placing them in balanced investment portfolios,” said Alasdair Haynes, CEO of Aquis.

In June 2020, BTCetc also became the world’s first centrally cleared Bitcoin ETP on Deutsche Börse’s XETRA platform.

It was then listed on the SIX in January 2021. According to data from Bloomberg quoted in the company’s announcement, the ETP recorded inflows of $ 459.66 million in the first quarter of the year.

READCrypto ‘Wild West’ needs to be tamed in front of a UK Bitcoin ETF

The price of cryptocurrencies has been a yo-yo since the pandemic began, with Bitcoin, the largest digital currency by market cap, hitting highs of $ 64,829 in mid-April, according to CoinDesk. As of 9:04 a.m. BST, Bitcoin was trading at $ 36,901.

Independently of this, the deVere Group, a consulting firm with 12 billion

To contact the author of this story with feedback or news, send an email to Bérengère Sim