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BTCE Became the First Derivative Reaching AUM of $100 Mln in 4 Months

10 November 2020 12:38, UTC
BTCE Became the First Derivative Reaching AUM of $100 Mln in 4 Months

Just four months after listing on Deutsche Börse, BTCE became the first Bitcoin-ETP to reach $100 million in assets under management (AUM).

Institutional interest in the largest cryptocurrency by market cap is growing every month. Launched in June, ETC Group's product hit $100 million in no time, according to ETF Stream. According to ETC Group CEO Bradley Duke, this achievement underlines the growing investor confidence in cryptocurrency derivatives.

Since the US Securities and Exchange Commission has yet to give the green light to an Exchange Traded Fund (ETF), the popularity of ETPs in Europe is growing. The major stock exchanges in Austria, Germany and Switzerland now list such products, however, for example, in the UK, the situation is completely different. Regulators in London declared it illegal to sell crypto derivatives to retail consumers back in October.

22.01.2020  |   in Legislation
Institutional investment in bitcoin rises as the price rises further. Grayscale Investments has already noted that its AUM has exceeded the $9 billion mark. Public companies like MicroStrategy and Square hold BTC as reserve assets.

Image by Blockchain News



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