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The London-based ETC Group plans to offer the first exchange-traded crypto product on the German stock exchange XETRA – the exchange-traded cryptocurrency (ETC) has already received BaFin’s approval and is expected to be listed later this month.

Bitcoin Exchange Traded Crypto (BTCE), an exchange traded cryptocurrency that tracks Bitcoin’s price, is to be listed on the XETRA trading platform in June. As HANetf announced in a press release, BTCE has already been approved by “BaFin and is structured as an ETC that is physically deposited with Bitcoin”.

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Bitcoin in the regulated financial markets

ETC Group CEO Bradley Duke is pleased with the progress: “BTCE brings the transparency and investor protection that regulators and institutional investors need to the Bitcoin world. The crypto sector has been held back due to concerns about complexity, accessibility and governance. With BTCE we bring Bitcoin to the world of regulated financial markets. Investors get the benefits of trading and owning Bitcoin through a regulated security, while at the same time having the option to redeem their shares for Bitcoin if they so wish. Listing the first exchange-traded cryptocurrency “We’re also very excited to be working with HANetf to support the democratization of crypto investments through educational education,” said HANetf Duke in his press release.