Bitwise Marks Five-Year Milestone of BTCE Listing Amid Rising Institutional Interest in Crypto
19 JUN, 2025
By Jose Luis Palmer from RankiaPro Europe
Bitwise has celebrated the fifth anniversary of its Bitwise Physical Bitcoin ETP (BTCE), the first Bitcoin ETP listed on Deutsche Börse Xetra. Launched on 18 June 2020, BTCE was also the world’s first centrally cleared Bitcoin ETP, signalling Bitwise’s entrance into the European market and setting the stage for broader crypto product listings across the continent.
Today, BTCE ranks among Europe’s largest physically backed Bitcoin ETPs by assets under management, and is also the most traded. It features full physical backing, physical redemption, and a no-lending policy – a structure designed to meet investor demands for transparency and risk mitigation.
Bitwise ensures further transparency through weekly independent balance reports and public blockchain addresses for both BTC and ETH custody wallets. Asset movements require approval from an independent transaction administrator with legal veto rights, embedded into both the legal structure and the prospectus.
The company’s management arm is ISO/IEC 27001:2017 certified, and refrains from proprietary trading to maintain alignment with investor interests.
Reaching the five-year milestone is not only a reason to celebrate, but also a chance to reflect on our long-term vision. We are committed to offering transparent, reliable, and regulated access to digital assets for European investors. Bitwise is 100% focused on crypto, but many of our experts come from the world of traditional finance – a combination that allows us to guide investors as they explore this new asset class. We thank our partners and investors who believed in this asset class from the very beginning.
Bradley Duke, Managing Director and Head of Europe, Bitwise
We congratulate Bitwise on the fifth anniversary of its Bitcoin ETP on Xetra. The listing of this pioneering product marked the beginning of our crypto ETN segment and was an important step in providing investors with regulated access to cryptocurrency performance. It was also the world’s first such product with centralised clearing. As the leading trading venue for crypto ETNs in Europe, we greatly value our collaboration with Bitwise and look forward to what lies ahead.
Stephan Kraus, Head of ETF & ETP, Deutsche Börse
Digital assets become a portfolio mainstay
Bitwise continues to respond to increasing institutional interest by expanding its product suite, offering regulated digital asset exposure across leading European exchanges. Analysis by the firm shows that a 5% Bitcoin allocation in a traditional 60/40 portfolio between 2014 and 2025 would have improved average annual returns from 6.2% to 10.6%, with only minor effects on volatility and risk metrics.
The firm’s offering now includes not only single-asset ETPs for Bitcoin, Ethereum, and Solana, but also diversified baskets and ETPs tracking staking-related indices. Bitwise products are structured for integration into institutional portfolios, while also accessible to retail investors through mainstream brokerage platforms.
Digital assets are seen as a hedge against inflation, with limited exposure to geopolitical or fiscal pressures. They are also increasingly favoured by Generation Z investors, expected to inherit substantial wealth in the coming decades. In emerging markets and politically unstable regions, digital assets may serve as critical financial tools where traditional banking infrastructure is unavailable.
