Tag: ETC Group

Exchange Traded Notes (ETNs) in the cryptocurrency sector have gained popularity in Europe, offering investors exposure to digital assets through regulated exchanges. With the implementation of the Markets in Crypto-Assets Regulation (MiCAR), which entered into force in June 2023, the regulatory landscape for crypto-based financial products is evolving.

The US-based Bitwise Asset Management is one of the leading providers of crypto index funds and ETFs. Bitwise has a six-year track record focused solely on crypto and aims to provide investors with professional-grade, rules-based exposure to the crypto asset class through its index funds and ETFs. The company announced the acquisition of London-based ETP issuer ETC Group.

The BTC is currently oscillating around $37,000 with a resulting market cap of around $680B. ETH is holding at over $1,200 with a market cap of around $140B. No surprise that new crypto-related financial instruments are emerging, such as Greg King's Osprey Bitcoin Trust (www.ospreyfunds.io), whose shares started to trade on the OTC market in New York a few days ago. This has given competition to Barry Silbert's Grayscale Bitcoin Trust and may drive additional demand for BTC.

More and more traditional investors, and especially institutional investors, want to diversify into crypto assets without getting involved in crypto exchanges or OTC themselves. They invest in exchange-traded securities that have a direct crypto connection. In the U.S., the market leader is Grayscale Investments with several crypto-related products, and in Europe, Germany's ETC Group is one of the market leaders. Trading in crypto-related products exploded in early 2021.