Swiss digital asset manager flags off its Crypto Winter Suite with the 21Shares Bitcoin Core ETP (CBTC).

21Shares AG has launched a bitcoin ETP tailor-made for today’s crypto market, one that has been mauled by rampaging bears and gripped by a “crypto winter.” The 21Shares Bitcoin Core ETP (CBTC), which started trading on the SIX Swiss Exchange effective Wednesday, is claimed to be the lowest cost physically-backed Bitcoin ETP in the world. (Blockworks)

21Shares Bitcoin Core ETP (CBTC)

The new ETP has an expense ratio of only 0.21%. Interestingly, that figure is a nod towards the 21 million cap on bitcoin, its maximum quantity that can ever be mined.

The expense ratio is 44 basis points (0.44%) below the next lowest product on the market.

Furthermore, the costs of the fund are likely to be reduced through lending the underlying crypto holdings on a fully collateralized basis.

“If you believe that bitcoin is currently in a bear market, but that it will one day reverse and rebound, then ‘buying the dip’ with a low-cost exposure like this particular ETP is a cost-effective way to stay invested and express that view,” said Lara Crigger, editor-in-chief of investment research firm VettaFi, to Blockworks.

Fundspeak

“While we’re experiencing a tougher market today, interest in the long-game of cryptocurrency has not wavered,” said Hany Rashwan, CEO and co-founder, 21Shares, in a statement. “We’ve seen investor demand for low-cost exposure to this asset class – and the 21Shares Bitcoin Core ETP – the first product in our new suite – does just that, at the most competitive pricing in the world.

“Our bear-market products provide investors with a robust toolkit for navigating the challenging market environment.”

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