On Jan. 19, the ETP will go live and will be listed under the ticker BITC.
According to Coindesk, bitcoin ETPs provide exposure to bitcoin in a regulated asset class. In contrast to the U.S., where regulators have been loathe to sign off on bitcoin ETF applications, there are already several entities offering crypto-backed products across Europe.
The product’s assets will be custodied by Komainu, a venture which launched about a year ago, involving Nomura Holdings, CoinShares and Ledger.
BITC will charge a 0.98% expense ratio and will be physically backed by bitcoin.
This past week, digital asset-backed securities developer ETC Group declared that it would list a physically backed bitcoin ETP on SIX.
ETC Group was the 34th ETP provider on the exchange, making CoinShares the 35th.