Bitwise Asset Management has listed four of its Germany-issued cryptocurrency exchange-traded products (ETPs) on the London Stock Exchange (LSE). These ETPs aim to broaden access to Bitcoin, Ethereum, and Ethereum staking for professional investors in one of Europe’s premier financial hubs.
The products are German-issued, regulated, and built for institutional-grade access.
The Journey to the Bitwise ETPs
The launch follows Bitwise’s acquisition of ETC Group in 2024, which accelerated its European product suite, including Solana and Aptos Staking ETPs. Additionally, the company proved its commitment to transparency and regulatory compliance with BaFin-approved prospectuses, positioning these ETPs as viable portfolio additions for pensions, family offices, and asset managers.
The four mentioned ETPs are Bitwise Core Bitcoin ETP (BTC1), Bitwise Physical Bitcoin ETP (BTCE), Bitwise Physical Ethereum ETP (ZETH), and Bitwise Ethereum Staking ETP (ET32).
With a total expense ratio (TER) of 0.20% and a unique “Triple-Daily NAV” pricing system combining liquidity from Hong Kong, the EU, and the U.S., the Bitwise Core Bitcoin ETP (BTC1) is the most cost-efficient Bitcoin ETP in Europe. Designed for long-term investors, it has produced a 33.9% return since its April 2024 launch in Germany.
The Bitwise Physical Bitcoin ETP (BTCE) is a $1.1 billion AUM titan and Europe’s most liquid Bitcoin ETP. It boasts a five-year track record, with a 695.7% cumulative return since its 2020 launch, and is attractive to traders due to its narrow bid-ask spreads.
The Bitwise Physical Ethereum ETP (ZETH) offers pure ETH exposure with institutional-grade cold storage custody. Although it declined by 53.2% in 2025, it remains an important option for Ethereum’s performance.
The Bitwise Ethereum Staking ETP (ET32) is the only ETH staking ETP tied to a real benchmark, accruing daily staking rewards. It targets investors who are seeking yield in a low-rate environment. Since its 2024 launch, it has declined by 40.6%.
Limitations and Challenges of ETPs
Although the products leverage London’s status as a leading ETP trading venue, accessible from over 20 countries, they remain restricted to professional and wholesale investors in the UK.
Furthermore, investors face inherent volatility, which is evident in ZETH’s 2025 plunge and ET32’s staking rewards, which are offset by price declines. The company warns that these products are suitable only for experienced investors comfortable with market, liquidity, and regulatory risks.
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