What Is Bitcoin Exchange Traded Crypto and What Impact Could It Have?
bitcoinschannel.com
On June 18, ETC Group and HANetf announced the listing of a new exchange-traded bitcoin investment vehicle – named Bitcoin Exchange Traded Crypto (BTCE) – on the Germany-based Xetra exchange. Those expecting a major splash in bitcoin prices following the announcement of the new BTCE product will have been disappointed, as the market was largely unmoved by the news.
While the BTCE is effectively a bitcoin ETF, it is primarily targeted at retail investors and is currently only available in Germany, Austria, Italy and the United Kingdom. That means larger Wall Street investment firms that would be expected to pile into a United States-based Bitcoin ETF (and thus drive up the price of bitcoin), will not be investing in the Xetra-listed BTCE.
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