In a landmark development for the European digital asset market, CoinShares Physical Bitcoin ETP (ticker: BITC; ISIN: GB00BLD4ZL17) has officially become the largest physically backed Bitcoin exchange-traded product (ETP) on the continent by assets under management (AUM). This achievement marks a pivotal moment not only for CoinShares but for the broader adoption of institutional-grade crypto investment vehicles in Europe.
The milestone coincides with Bitcoin reaching the historic $100,000 price point—an event that has further amplified investor interest in secure, regulated, and transparent access to digital assets. As of early December 2025, BITC leads the European Bitcoin ETP landscape, underscoring a growing preference among investors for products that combine regulatory compliance, cost efficiency, and robust infrastructure.
With this success, CoinShares now manages over $5.4 billion in Bitcoin-focused ETPs** across its CoinShares Physical Bitcoin and CoinShares XBT Provider Bitcoin product lines. This positions the firm as the dominant player in Europe’s rapidly expanding digital asset investment ecosystem, contributing to its overall AUM exceeding **$8.9 billion.
A Strategic Entry with Rapid Market Capture
Launched in January 2021, CoinShares entered the Bitcoin ETP space after earlier market entrants such as 21Shares (2019) and ETC Group (now Bitwise Europe, 2020). Despite being a later entrant, CoinShares quickly gained momentum—outpacing established competitors through a combination of strategic innovation and investor-centric design.
👉 Discover how institutional investors are gaining trusted access to Bitcoin through regulated ETPs.
Frank Spiteri, Head of Asset Management at CoinShares, reflected on the journey:
"We launched our Bitcoin Physical Product in 2021, entering the market after our competitors. Today, we're accelerating and capturing significant market share, leading the way in the industry. Our focus on best-in-class product structuring, accessible management fees, and a robust distribution strategy is delivering outstanding results."
This rapid ascent reflects more than just timing—it demonstrates a deep understanding of what modern investors demand: security, transparency, and ease of access—all within a compliant framework.
What Sets BITC Apart?
Several key factors have contributed to the sustained growth and market leadership of CoinShares Physical Bitcoin:
Optimal Product Structuring
BITC is fully backed by physical Bitcoin holdings, stored in cold storage with institutional-grade custodians. The structure ensures full transparency, with daily publication of net asset value (NAV) and independent auditing. This level of oversight meets the rigorous standards expected by both retail and institutional investors.
Competitive Management Fees
Cost remains a critical factor in long-term investment performance. CoinShares offers one of the most competitive fee structures in the market—enabling investors to gain exposure to Bitcoin without incurring excessive overhead. Lower fees translate into higher net returns, making BITC an attractive option for long-term holders.
Pan-European Distribution Strategy
Unlike many niche offerings limited to specific exchanges or countries, BITC benefits from a broad distribution network across major European financial centers. It is listed on leading exchanges including Deutsche Börse Xetra, Euronext Paris, and SIX Swiss Exchange, ensuring high liquidity and accessibility for advisors, wealth managers, and retail investors alike.
Driving Institutional Adoption Across Europe
CoinShares’ success with BITC highlights a broader trend: the increasing integration of digital assets into traditional finance. European investors—from pension funds to family offices—are seeking regulated pathways to include Bitcoin in their portfolios. ETPs like BITC provide exactly that: a familiar investment vehicle (exchange-traded), settled in euros or other fiat currencies, with no need to manage private keys or navigate cryptocurrency exchanges directly.
This shift is supported by evolving regulatory clarity across jurisdictions such as France, Sweden, and Switzerland—where financial authorities recognize the importance of balancing innovation with investor protection.
👉 Learn how regulated Bitcoin ETPs are reshaping portfolio strategies in 2025.
Commitment to Innovation and Integrity
Since its founding in 2013, CoinShares has been at the forefront of digital asset innovation. As one of the earliest dedicated crypto investment firms in Europe, it has built a reputation for combining financial rigor with technological foresight. Today, the company operates across multiple jurisdictions—including Jersey, France, Sweden, Switzerland, the UK, and the US—and is regulated by top-tier authorities such as the Jersey Financial Services Commission (JFSC), Autorité des marchés financiers (AMF), and the U.S. Securities and Exchange Commission (SEC).
Being publicly listed on Nasdaq Stockholm (CS) and available over-the-counter in the U.S. (CNSRF) further enhances transparency and accountability—key pillars for investor trust.
FAQ: Understanding CoinShares Physical Bitcoin ETP
Q: What is a physically backed Bitcoin ETP?
A: A physically backed Bitcoin ETP holds actual Bitcoin reserves to back each unit of the product. Unlike synthetic or futures-based products, it provides direct exposure to spot Bitcoin prices without counterparty risk.
Q: How does BITC differ from other Bitcoin ETFs or ETPs?
A: BITC stands out due to its combination of full physical backing, low management fees, wide European availability, and strong regulatory oversight—making it one of the most accessible and trusted options for European investors.
Q: Is CoinShares Physical Bitcoin available outside Europe?
A: While primarily distributed across European markets, certain international investors can access BITC through global brokerage platforms that support cross-border trading of European-listed securities.
Q: How can I invest in BITC?
A: Investors can purchase shares of BITC through any brokerage account that supports trading on major European exchanges like Xetra, Euronext, or SIX.
Q: Does holding BITC mean I own Bitcoin directly?
A: No—you own shares in the ETP, which represents indirect exposure to Bitcoin. However, this structure avoids the complexities of self-custody while still tracking Bitcoin’s price performance closely.
Q: Why choose an ETP over buying Bitcoin directly?
A: An ETP offers simplicity, tax efficiency (in some jurisdictions), integration with traditional portfolios, and enhanced security via regulated custodians—ideal for investors who prefer not to manage wallets or private keys.
👉 Explore secure ways to gain exposure to Bitcoin without managing private keys.
Looking Ahead: The Future of Digital Asset Investing
As digital assets continue to mature as an asset class, products like CoinShares Physical Bitcoin are setting new benchmarks for quality and accessibility. With over $5.4 billion in Bitcoin AUM and growing investor demand across Europe, CoinShares is well-positioned to maintain its leadership role in shaping the future of regulated crypto investing.
The convergence of institutional interest, regulatory progress, and technological advancement suggests that 2025 will be a defining year for spot Bitcoin products in Europe—mirroring trends seen in other global markets.
For investors seeking reliable, compliant, and efficient exposure to Bitcoin, CoinShares Physical Bitcoin ETP represents a compelling solution—one that combines innovation with integrity in equal measure.
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