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TP ICAP Launches CryptoCurrency-Linked ETPs for European Clients


The world’s biggest inter-dealer broker TP ICAP unveils crypto-related exchange-traded products (ETPs) for its European clients, according to a report by The Block on Monday.

The broker facilitates trades between hedge funds, investment banks, and large financial institutions.

The company stated it had already performed the first crypto trade with Wall Street heavyweight Goldman Sachs. These ETPs are a way for firms to gain exposure to cryptocurrency assets without directly touching them.

Duncan Trenholme, co-head of digital assets at TP ICAP, stated that it has operated a crypto working group since 2017 and first provided liquidity to its customers on CME crypto products in 2019.

Trenholme further stated that the launch of the ETPs is a natural progression and matches with client demand.

TP ICAP’s focus for 2022 is the development of its spot trading platform, which allows clients to trade physical bitcoin. It is also seeking over-the-counter (OTC) derivatives, such as swaps and OTC options.

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