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21Shares Spot Bitcoin ETP Listed on Nasdaq Dubai

21Shares Spot Bitcoin ETP Listed on Nasdaq Dubai thumbnail

21Shares, the world’s largest issuer of cryptocurrency exchange-traded products, has launched a physically-backed Bitcoin ETP on the Nasdaq Dubai under the ticker symbol ABTC.

The new bitcoin ETP marks 21Shares’ first foray into the Middle Eastern market and will operate in the same way as its 21Shares Bitcoin ETP in Europe.

Both institutional and retail investors will be able to invest in the ETP, and investors can purchase the ETP through their bank or broker. Market makers, which provide live quotes on the secondary market, quote the ETP on an order book the moment investors purchase an ETP. The ETP has an expense ratio of 149 basis points. The expense ratio describes the annual fee investors pay to cover, amongst other things, administration and portfolio management costs.

The launch of the ETP in the Middle East follows similar listings on the Six Swiss Exchange and

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