Bitwise, one of the biggest issuers of crypto-based ETP and ETF, added London as the stage for four of its European products. All products are compatible with institutional-grade investments.
Bitwise expanded the offering of four of its products for the European market with a listing on the London Stock Exchange (LSE). The four ETP tickers will give access to BTC and ETH investments, as well as exposure to ETH staking.
All products are issued and regulated in Germany, and are compliant with all Euro Area requirements. The ETPs are also designed to fit the demand of institutional investors. The products are issued by Bitwise Europe GMBH, incorporated under German law.
“I am very pleased to see the debut listings of Bitwise products on the London Stock Exchange, one of Europe’s most esteemed trading venues. We will continue to innovate our product range, in dialogue with investors to bring products that suit their needs in this rapidly developing asset class,” said Bradley Duke, Managing director and Head of Europe at Bitwise.
The London market operator will carry the BTC1, BTCE, ZETH, and ETH32, a product linked to Ethereum staking with added custody and rewards. The funds are restricted to wholesale investors, offering a mix of liquidity and low fees. Bitwise has offered BTCE for over five years, turning it into one of the most liquid Bitcoin-based products for the European market.
Bitwise offers highly liquid European funds for BTC and ETH
The four ETPs offer varied investment profiles for institutions seeking to allocate funds to crypto. The Core Bitcoin ETP (BTC1) offers the lowest total expense ratio of 0.20% per year, designed for long-term investors. The Physical Bitcoin ETP (BTCE) has the highest liquidity level from the German trading platform XETRA, and is still one of the largest BTC products in Europe based on assets under management.
The Physical Ethereum ETP (ZETH) offers pure exposure and institutional-grade custody, while the Ethereum Staking ETP (ET32) offers low costs and daily accumulation of staking rewards. The new offerings will be settled and traded in cash, through USD and GBP.
Bitwise operates as a pure crypto entity, using its public wallets for some of the available ETFs. The fund carries 37.56K ETF in some of its known addresses, taking care of redemptions and transfers to Coinbase Prime for swapping. The ETPs are also adapted to traditional finance, and can be integrated into ETF portfolio accounts, and are compatible with the UK investment regulations.
The Bitwise products include a crypto index fund, tapping Uniswap (UNI) and Lido (LDO). The recent expansion of the LSE takes into account the more conservative venue, only offering fully regulated ETPs, linked to the most liquid assets.
The ETP issuer has moved into the European market with more products in the past year, offering ETPs based on Solana, Aptos, and a mixed Bitcoin and gold ETP launched this March. The products are listed on several European exchanges, leading up to the offerings on the highly liquid LSE. Bitwise also offers riskier funds linked to Web3 and DeFi, including private funds for accredited investors.
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