LISTED
CHF
sECONDARY MARKET
OPEN END

15 FiCAS Active Crypto ETP

The product BTCA trades up to 15 selected digital assets as defined by SIX Swiss Exchange and USD / CHF and EUR with the objective to increase the net asset value (NAV) of the ETP over the medium to long term. BTCA is a long-only strategy that aims to outperform Bitcoin over time, rather than a specific benchmark of the 15 selected assets. The investment style is discretionary, and no leverage trading is used.
Cumulative Return
___.__%
Return since 1 month
__.__%
Return YTD
__.__%
Performance
Risk Metrics
btca
standard deviation
__%
maximum drawdown
__%
Bitcoin
standard deviation
__%
maximum drawdown
__%
Historical Monthly Performance
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YearJanFebMarAprMayJunJulAugSepOctNovDecYTD
2020      14.28-3.83-6.4216.8017.48-7.1731.00
2021 22.17 40.1327.02 32.08 -26.36 -17.71 1.2110.31-5.6424.26-5.48-22.0167.95
2022 -15.98-9.76 -0.61 -10.16 -17.23  -37.7119.41-4.11-2.176.43-14.57-6.69-66.82
202331.462.7918.820.18-6.0010.41-6.69-10.127.5425.553.8615.23126.24
20240.7626.3412.93-18.895.16 -4.97 1.27 -11.77 7.35 7.6769.79 -12.4378.93
Objective
The objective of the 15 FiCAS Active Crypto ETP is to increase the net asset value (NAV) of the product in the medium to long term by trading bitcoins against 15 selected altcoins (as defined by the SIX Swiss Exchange) and exiting in fiat when this is the best option.
To attain its stated objective, FiCAS employs a discretionary investment approach, abstaining from leverage utilization and exclusively engaging in long positions. FiCAS selects and manages investments in Altcoins and Bitcoin based on a series of key indicators and parameters.
LISTING
SIX Swiss Exchange, Wiener Börse, Börse Stuttgart
MANAGEMENT FEE
2%
NAV - December 31st, 2024
CHF 295.46
ASSET MANAGER
FiCAS AG
ISSUER
Bitcoin Capital AG
ISSUE DATE
15.07.2020
ISSUE PRICE
CHF 100.00
BASE CURRENCY
CHF

Basket Allocation

The investment product allows retail, professional and institutional investors in Switzerland, Liechtenstein and in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Malta, Netherlands, Spain, and Sweden to invest in digital assets through their bank or broker, just as they would buy traditional equities in a regulated environment.
ISIN
CH0548689600
Ticker
BTCA
FiCAS Expert  Team Market Commentary
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Market Review
December in the crypto market was shaped by two primary factors.
Historically, as the year’s final month, many institutions opt to lock in profits before the holidays. More critically, the Fed’s new projections for 2025 rate cuts, following an additional 25bps reduction, signaled a slower pace of monetary easing.
Bitcoin reached a new all-time high of $108K early in the month before retreating to close the year at $93K. This performance capped an extraordinary year, with Bitcoin delivering a staggering 120% return for 2024. These gains were driven by macroeconomic trends, the approval of ETFs, and the halving event, which amplified supply-side dynamics.
Outlook
The incoming Trump administration is expected to play a pivotal role in shaping the crypto market’s trajectory over the coming months. With promised pro-crypto policies, the regulatory landscape could undergo significant reform, including the inevitable approval of new crypto ETFs. A key focus for the new SEC leadership will likely be expanding ETF coverage to include mega-cap and U.S.-based crypto assets, with Solana and XRP emerging as top candidates. These developments, coupled with proposed tax cuts, could stimulate a more risk-on environment, setting a favorable tone for early 2025.
Meanwhile, regulatory frameworks like MiCA have intensified the global stablecoin race, shaping competition and innovation within the sector. On another front, the growing adoption of Bitcoin as a treasury asset by private companies and governments signals the beginning of a sustainable demand cycle. This trend not only creates a positive feedback loop for Bitcoin prices but also bolsters the financial profiles of participating companies, reinforcing the asset’s role in long-term value creation.

The strong realized gains of 2024 have left investors with ample capital to deploy, laying the foundation for a promising altcoin season. Emerging technologies, particularly AI-driven blockchain solutions, are expected to dominate in 2025 as new projects gain traction. With supportive macroeconomic policies, a maturing regulatory environment, and technological innovation, the crypto market is poised for another transformative year, offering opportunities across the digital asset spectrum.

Other Information

Factsheet
Structure
Exchange Traded Product (ETP)
Minimum Subscription
1 unit
Management Fee
2%
Performance Fee
20%
High Watermark
Yes; 283.62 CHF
Administrator
Bitcoin Capital AG
Liquidity
Daily
Domicile
Switzerland
Executing Broker
Coinbase, AMINA Bank
Custodian
Coinbase, AMINA Bank
Stock Exchange
SIX Swiss Exchange, Stuttgart Exchange, Wiener Boerse
Calculation Agent
Vinter (Invierno AB)
Financial Market Authority
FMA Liechtenstein
Paying Agent
InCore Bank AG
Market Maker
Flow Traders B. V.
Authorized Participant
Flow Traders B. V.

How it works

No matter if you are familiar with crypto or not, you can successfully and safely start investing in crypto in a few easy steps

Enter ISIN number

Search for a specific FiCAS ETI or ETP by using its ISIN, ticker symbol or name on your bank or broker platform.

Step 1

Order details

Select the number of ETP shares you wish to purchase and specify the order type (market order, limit order, stop loss, etc.)

Step 2

Review and confirm

Review your order to ensure accuracy and confirm the trade.

Step 3

Track your asset performance

After the ETI or ETP order is executed, you can track the investment's performance through your bank or brokerage account.

Step 4
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Any questions?

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