Invesco Launches Physically-backed Bitcoin ETPs, WisdomTree Lists Three Crypto-Basket ETPs in Europe


After dropping its plan to launch a Bitcoin futures ETF in the US while pursuing a physically-backed ETF, Invesco launched a physically-backed bitcoin exchange-traded product (ETP) in Europe.

The Invesco Physical Bitcoin ETP (BTIC), which tracks the CoinShares Bitcoin Hourly Reference Rate index, is listed on the Deutsche Boerse. The ETP has a fixed annual fee of 0.99%.

Invesco has chosen the UK-based digital asset manager Zodia Custody for the custody of Bitcoin. The Custodian is registered with the FCA as a crypto asset business under the UK Money Laundering Prevention Regulations. Zodia was incubated by SC Ventures, the innovation arm of Standard Chartered, with Northern Trust as its co-investor, which will also act as the administrator for BTIC.

“We have been working on the product since the middle of 2018,” Gary Buxton, head of EMEA ETFs and indexed strategies at Invesco, told ETF Stream.

“In the last two to three years, we have been trying to structure a product that looked, from an institutional point of view, as close as possible to a traditional ETF like our gold structure, and that has been the driver of BTIC’s timeline.”

Asset manager WisdomTree also launched a trio of crypto basket ETPs in Europe, which are listed on the Swiss stock exchange SIX and Frankfurt-based Börse Xetra.

These ETPs track proprietary indices developed by WisdomTree. One of the indexes is the WisdomTree Crypto Market (BLOC) — which provides exposure to the most established crypto assets such as BTC, ETH, BCH, and LTC, but caps Bitcoin and Ether’s combined allocation to 75% to void overexposure to the top two cryptos.

WisdomTree Crypto Mega Cap Equal Weight (MEGA) meanwhile focuses only on Bitcoin and Ether.

WisdomTree Crypto Altcoins (WALT) is another index that focuses on altcoins like Solana, Cardano, Polkadot, BCH, and Litecoin.

BTC -2.92% Bitcoin / USD BTCUSD $ 34,295.12
-$1,001.42-2.92%
Volume 35.26 b Change -$1,001.42 Open $34,295.12 Circulating 18.94 m Market Cap 649.51 b
3 w SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 3 w A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 3 w Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum
ETH -8.37% Ethereum / USD ETHUSD $ 2,234.15
-$187.00-8.37%
Volume 24.09 b Change -$187.00 Open $2,234.15 Circulating 119.29 m Market Cap 266.52 b
3 w Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 3 w A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 3 w The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022
SOL -13.89% Solana / USD SOLUSD $ 84.71
-$11.77-13.89%
Volume 3.94 b Change -$11.77 Open $84.71 Circulating 314.69 m Market Cap 26.66 b
3 w Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 3 w Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum 1 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows
ADA -9.38% Cardano / USD ADAUSD $ 1.00
-$0.09-9.38%
Volume 2.8 b Change -$0.09 Open $1.00 Circulating 33.55 b Market Cap 33.52 b
4 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 1 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 1 mon Solana (SOL) Bucks the Trend, Along With Tron (TRX), by Recording Highest Inflows After Bitcoin (BTC): Report
DOT -8.01% Polkadot / USD DOTUSD $ 16.79
-$1.34-8.01%
Volume 2.02 b Change -$1.34 Open $16.79 Circulating 987.58 m Market Cap 16.58 b
1 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 1 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 1 mon Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows
BCH -5.82% Bitcoin Cash / USD BCHUSD $ 272.62
-$15.87-5.82%
Volume 5.13 b Change -$15.87 Open $272.62 Circulating 18.96 m Market Cap 5.17 b
1 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 1 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card 1 mon Invesco Launches Physically-backed Bitcoin ETPs, WisdomTree Lists Three Crypto-Basket ETPs in Europe
LTC -5.97% Litecoin / USD LTCUSD $ 101.34
-$6.05-5.97%
Volume 1.48 b Change -$6.05 Open $101.34 Circulating 69.49 m Market Cap 7.04 b
1 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 1 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 1 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card

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