- 21Shares today released a new ETP on the SIX Swiss Exchange aimed at providing low-cost exposure to Bitcoin.
- ETP is the lowest cost product of its kind.
- This ETP is the first 21Shares product aimed at investors surviving the bear market.
Today, 21Shares announced the release of the Crypto Winter Suite, a collection of exchange-traded financial products (ETPs) aimed at surviving downtrends in the market. It starts with the lowest cost Bitcoin ETP on the market. press release..
Arthur Krause, Director of ETP Products at 21Shares, said: “Our CryptoWinter Suite provides investors with a way to soak their toes in water at some of the lowest costs on the market.”
21Shares Bitcoin Core ETP (CBTC) aims to provide low-cost exposure to assets at a total cost ratio of 21 basis points (0.21%), which means it reflects the Bitcoin cap of 21 million units. is. This is reported to be 44 basis points lower than the next lowest product on the market. ETP will lend a portion of the underlying Bitcoin that is fully secured to offset operating costs, but will not begin lending until 21Shares reaches the size it deems appropriate.
Hany Rashwan, CEO and co-founder of 21Shares, said: “We have seen investors’ demand for low-cost exposure to this asset class. The first product in the new suite, the 21SharesBitcoinCore ETP, does just that at the most competitive prices in Europe.”
In recent months, Bitcoin has fallen from a high of almost $ 69,000 to $ 17,500, reversing to a psychological level of support of $ 20,000. The current state of the Bitcoin market can seem daunting to those who aren’t just getting Bitcoin, as it represents a drop of almost 71% at current levels.
“Our bare market products provide investors with a robust toolkit for navigating difficult market environments,” said Rashwan.
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