Today, it’s been revealed that the ETC Group said that they are launching the very first BTC exchange-traded product (ETP) in the UK on the Aquis Exchange Multilateral Trading Facility (MTF) in London on June 7.
The same official notes reveal that the ETC Group said this is the first time a crypto ETP will be made available for trading on the UK market or any European MTF.
“Trading of the ETP will take place in four different currencies, GBP, CHF, Euro, and USD. The clearing will be carried out by Switzerland-based central counterparty clearing house SIX x-clear,” according to the notes.
It’s been also revealed that “So far, the UK has been taking a cautious approach to approving crypto products. In January this year, the Financial Conduct Authority banned the sale of derivatives and exchange-traded notes describing the products to be ill-suited for retail consumers due to the potential harm they pose.”
More than that, it’s been reported that the firm said it has seen investors include exposure to crypto ETPs in their portfolios as a hedge against inflation.
“ETC Group provides exposure to bitcoin, ether, and litecoin through our 100% physically backed cryptocurrency ETPs, and bringing our flagship bitcoin product to Aquis Exchange was a logical step as institutional demand for exposure to crypto grows around the world,” according to Bradley Duke, CEO of ETC Group.
We suggest that you check out the complete notes in the original article.
The crypto space is doing its best to recover following the recent losses due to the fall in the price of Bitcoin.
Mark Cuban addresses the future of corporations
In other news, Mark Cuban is addressing the future of corporations and you should check out the post that he dropped on his Twitter account about this. Here it is.
The future of corporations could be very different as DAOs take on legacy businesses. It’s the ultimate combination of capitalism and progressivism. Entrepreneurs that enable DAOs can make $. If the community excels at governance, everyone shares in the upside. Trustless can pay
— Mark Cuban (@mcuban) May 31, 2021
Cuban also said: “There are so many features and processes in any given company that can be more efficient and productive using a decentralized, trustless approach. As companies are built on this approach we will see some incredibly disruptive businesses built.”
Stay tuned for more juicy news.