Switzerland’s leading stock exchange, SIX, is listing an active crypto exchange-traded product (ETP) in a move that will increase digital asset exposure in the Zurich headquartered market. This new product will go by index ‘BTCA’ which derives from its full name, Bitcoin Capital Active ETP. Notably, the BTCA ETP will be issued by Bitcoin Capital AG while FiCAS, the Swiss-domiciled crypto investment firm, acts as the manager.
Ideally, this crypto ETP is meant to create more portfolio balancing positions in a world where digital assets account for over $300 billion in market cap as of press time. Built to be regulatory compliant, the BTCA ETP will expose investors to the top 15 digital assets, giving them an opportunity to actively rebalance their pool and exit positions through fiat.
Consequently, product managers will be able to execute these moves by exchanging BTC for other digital currencies including TRX, XTZ, LTC, EOS, BCH, XRP, and ETH. The main exit fiat currencies will be the U.S dollar, Euro, and Swiss Franc.
The BTCA ETP has been touted to be particularly different since it is not pegged on a single asset’s movement or basket of crypto indexes. Instead, this crypto-based ETP comprises of the digital assets highlighted above and can, therefore, be actively managed based on market fundamentals and technical price action. Some of the fundamental factors that FiCAS noted it would pay attention to are investor sentiment and issues such as a token’s liquidity or the value an underlying blockchain.
As for the technical price action, Ali Mizani Oskui, the founder of FiCAS, is confident of a trusted strategy that he has beaten the market since 2013,
“Personally, I have built my expertise in crypto trading since 2013, with a strong track record in outperforming the market. I look forward to bringing my trading experience to global and institutional markets with this pioneering product.”
This latest crypto-based listing on Six stock exchange adds to the likes of the Wisdom Tree Bitcoin ETP which launched back in December. Switzerland has generally been very progressive in the crypto space, making it an attractive destination for Security Token Offerings (STO’) and now crypto ETP’s are gradually following pace.