TP ICAP Digital Assets completes first bitcoin (BTC) ETP trade

TP ICAP, a provider of market infrastructure, announced today a major milestone in its Digital Assets business with the first trades completed on crypto-asset equity instruments with Goldman Sachs. The company’s Digital Assets business traded the ETC Group Physical Bitcoin on an outright basis and against the CME Bitcoin Future in the form of an…
TP ICAP Digital Assets completes first bitcoin (BTC) ETP trade

TP ICAP, a provider of market infrastructure, announced today a major milestone in its Digital Assets business with the first trades completed on crypto-asset equity instruments with Goldman Sachs.

The company’s Digital Assets business traded the ETC Group Physical Bitcoin on an outright basis and against the CME Bitcoin Future in the form of an EFP (Exchange for Physical). Leading Crypto Exchange-Traded Products (ETP) market makers DRW, Flow Traders, and Jane Street provided liquidity.

TP ICAP is actively providing liquidity to its clients across the CME Bitcoin and Ether Futures and Bitcoin Options and is expanding its product offering alongside partners such as Goldman Sachs.

There has been a meaningful increase in CME Bitcoin Futures volumes following the recent approvals of the first US Bitcoin Futures-based ETFs. TP ICAP expects to see continued interest across crypto asset-based futures and options products and an interbank NDF (Non-deliverable forward) market develop on Bitcoin, and potentially Ether, throughout the course of 2022.

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