Crypto asset managing entity CoinShares is reportedly making a Bitcoin exchange-traded product (ETP), available on the SIX Swiss Exchange.

Specifically, the listing of Bitcoin ETP across Switzerland’s principal stock exchange will reportedly be finalized within January 20th, under the ticker symbol BITC.

Every ETP will reportedly be supported, in a physical manner, by 0.001 Bitcoin (BTC) – with value equivalent to approximately $36 at the time of publication.

Komainu – formed by a joint collaborative initiative between CoinShares, Japan-based bank Nomura Holdings and hardware wallet producing firm Ledger during June last year – will reportedly be in charge of the custody job for the ETP. 

“A lot of institutional clients have a very strong due-diligence process, and we wanted to bring to market a best-in-class product to embrace that demand. We are ready, as of January, to embrace the forthcoming demand from institutional clients.” CoinShares’ chief revenue officer, Frank Spiteri, reportedly remarked. 

CoinShares chief strategy officer, Meltem Demirors, reportedly took to Twitter to disclose the release of the ETP, with $200 million in assets under management (AUM). Around $4 billion in AUM is reportedly included in the firm’ scope at the moment – a 300% surge since August 2020. 

SIX Exchange has reportedly widened the scope of its crypto offerings since listing the world’s first ETP in 2018. In July, the exchange listed the Bitcoin Capital Active ETP – an actively managed ETP trading BTC against 14 top altcoins.