Key Takeaways
- Bitwise listed four Bitcoin and Ethereum ETPs on the London Stock Exchange.
- BTC1 is Europe's most cost-efficient Bitcoin ETP with a 0.20% TER.
- BTCE holds $1.1 billion and has returned 695.7% since 2020.
Bitwise Asset Management has listed four of its German-issued cryptocurrency exchange-traded products (ETPs) on the London Stock Exchange, offering professional investors in the UK access to Bitcoin, Ethereum, and Ethereum staking.
Product lineup
The four ETPs include the Bitwise Core Bitcoin ETP (BTC1), Bitwise Physical Bitcoin ETP (BTCE), Bitwise Physical Ethereum ETP (ZETH), and Bitwise Ethereum Staking ETP (ET32).
These products are regulated, designed for institutional use, and follow BaFin-approved prospectuses.
Strategic growth
The launch comes after Bitwise’s 2024 acquisition of ETC Group, which expanded its European product offerings.
BTC1, introduced in April 2024, is Europe’s most cost-efficient Bitcoin ETP with a total expense ratio of 0.20%.
It uses a “Triple-Daily NAV” system sourcing liquidity from Hong Kong, the EU, and the U.S., and has returned 33.9% since launch.
Flagship Bitcoin product
BTCE is the firm’s flagship Bitcoin product, with $1.1 billion in assets under management and a 695.7% return since 2020.
It is also Europe’s most liquid Bitcoin ETP.
Ethereum products performance
ZETH offers pure Ethereum exposure with cold storage custody but has declined 53.2% in 2025.
Meanwhile, ET32 — the only Ethereum staking ETP tied to a benchmark — provides daily staking rewards but has dropped 40.6% since launching in 2024.
Investment restrictions
Though listed on a top-tier exchange, these ETPs are currently available only to professional and wholesale investors in the UK.
Bitwise warns of the volatility and risks tied to such products, particularly in uncertain market conditions.
