The announcement comes the same day as ETC Group’s Bitcoin ETP began trading on the same exchange.

Switzerland-based 21Shares, formerly known as Amun, has said it will make its Bitcoin (exposedcrypto.com/bitcoin-price”>BTC) exchange-traded product available to traders in the United Kingdom through the Aquis Exchange.

According to an announcement from 21Shares, its Bitcoin exchange-traded product (ETP) will be available to professional investors on the Aquis Exchange this summer. U.K.-based firm GHCO will be acting as the crypto ETP’s liquidity provider, with 21Shares saying the product would be “engineered like an [exchange-traded fund].”

“ETPs trade on exchanges in a similar manner to a listed stock and institutional investors in the U.K. will get exposure to Bitcoin via a regulated framework and structure which they are already accustomed to,” said 21Shares. “The ETP has been designed to provide institutional U.K. investors with secure and cost-effective exposure to Bitcoin without the associated Bitcoin custody and security challenges.”

21Shares reported more than $1.5 billion in assets under management exposedcrypto.com/news/21shares-has-added-over-160-to-its-managed-crypto-funds-in-2020″ data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/news/21shares-has-added-over-160-to-its-managed-crypto-funds-in-2020/amp”>across 14 ETPs available on European stock exchanges. One unit of the firm’s Bitcoin ETP on Aquis will reportedly represent exposure to 0.00035 BTC, or roughly $12.54 at the time of publication.

A few companies have begun expanding their crypto products to the U.K. market. Also on Monday, crypto investment manager ETC Group’s Bitcoin ETP exposedcrypto.com/news/popular-bitcoin-etp-set-to-debut-in-uk” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/news/popular-bitcoin-etp-set-to-debut-in-uk/amp”>began trading on the Aquis Exchange in London and Paris. However, the country’s financial watchdog, the Financial Conduct Authority, exposedcrypto.com/news/uk-crypto-community-reacts-as-fca-derivatives-ban-goes-into-effect” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/exposedcrypto.com/news/uk-crypto-community-reacts-as-fca-derivatives-ban-goes-into-effect/amp”>banned the sale of crypto derivatives to retail traders in January.