Invesco recently announced its first BTC exchange-traded product. The asset manager talked to ETF Stream about its latest sport, BTC exchange-traded product in Europe. The tool is physically supported by actual BTC and delivers the BTC minus fees’ performance by monitoring the CoinShares BTC Hourly Reference Rate.
Gary Buxton, Invesco’s head of indexed strategies and EMEA ETFs, talked about the development. According to Gary, the previous few years have been pivotal for Invesco, especially from an institutional point of view. Keep reading to find more information about the latest release and prices.
The entire Invesco team has worked hard to design a product as identical as a standard ETF. As a result, it can be like its gold structure, which has been a significant factor behind BTIC’s timeline.
For several years, institutional clients have pushed Invesco to understand the best way to rule the market. Most of the meetings with customers do not correlate to Bitcoin, merely its segregation and accessibility. It comprises topics like getting comfortable with Bitcoin valuation,
Invesco has listed its Physical Bitcoin ETP on the Deutsche Boerse under the symbol, BTIC. It currently boasts a TER (total expense ratio) of 0.99%. The venture is targeting institutional investors looking for better BTC knowledge and value assessment.
BTIC aims to perform like spot Bitcoin than BTC-linked products like trusts or derivative products. Users can also call BTIC an ETN (exchange-traded note), which forms a reference name differentiating the category of similar ETN.
Gurbacs added that Europe only counts a basket of securities as an ETF (Exchange Traded Fund. The majority of single-assets commodities stay structured as an ETN (exchange-traded note.) Some of them are physically-backed, while others are bank-backed.