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.

ISIN

CH0548689600

KID

Base Prospectus

Factsheet

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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Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD
2020							14.28	-3.83	-6.42	16.80	17.48	-7.17	31.00
2021	22.17	40.13	27.02	32.08	-26.36	-17.71	1.21	10.31	-5.64	24.26	-5.48	-22.01	67.95
2022	-15.98	-9.76	-0.61	-10.16	-17.23	-37.71	19.41	-4.11	-2.17	6.43	-14.57	-6.69	-66.82
2023	31.46	2.79	18.82	0.18	-6.00	10.41	-6.69	-10.12	7.54	25.55	3.86	15.23	126.24
2024	0.76	26.34	12.93	-18.89	5.16	-4.97	1.27	-11.77	7.35	7.67	69.79	-12.43	78.93
2025	4.64	-26.55	-10.43	2.65	11.37	-4.21							-24.61

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 — JUNE 30, 2025

CHF 222.74

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

Digital assets navigated a challenging macro backdrop in June, as heightened geopolitical tensions including a U.S. strike in the Middle East and renewed tariff rhetoric kept risk sentiment fragile.

Bitcoin proved resilient, finishing the month up 0.52 percent and lifting its first-half gain to 17.92 percent. Ethereum slipped 1.54 percent yet held firm above USD 2,500; cumulative net inflows to U.S. spot Ether ETFs reached USD 4 billion ahead of their first anniversary. Solana fell 1.02 percent, extending its year-to-date decline to 18.1 percent.

Policy headlines dominated. The U.S. Senate passed the GENIUS Act, the country’s first comprehensive stablecoin framework. In quick succession, Société Générale unveiled a dollar-pegged stablecoin on Ethereum and Solana, JPMorgan launched the JPMD token on Base for institutional clients, and both Walmart and Amazon confirmed exploratory work on proprietary stablecoins. Guggenheim tapped the XRP Ledger to issue tokenised commercial paper, while Ripple formally ended its legal battle with the SEC, removing a long-standing overhang.
‍
Institutional demand remained robust despite the geopolitical overhang. U.S. spot Bitcoin ETFs are on pace to hit USD 1 trillion in cumulative trading volume less than 18 months after launch, and global crypto funds attracted USD 1.2 billion in new capital as investors sought diversification. BlackRock’s iShares Bitcoin Trust logged another multi-week streak of inflows, and Circle’s share price reached an all-time high amid a rebound in its Ethereum treasury.

Outlook

July has historically been a constructive month for digital assets, and the pattern is poised to repeat. We anticipate a firm start across major crypto markets, although momentum could taper toward month-end as traders lock in gains. A key catalyst will be the expected approval cycle for the next wave of altcoin spot ETFs, where Solana, XRP, and Litecoin lead the candidate list. Successful launches would broaden institutional access and diversify flows beyond Bitcoin and Ether.

Equity markets are also signaling deeper engagement with the sector. Circle’s successful IPO demonstrated strong demand for crypto-native listings, and a pipeline of additional offerings is expected to emerge in the fourth quarter as traditional exchanges seek higher-growth opportunities. On the policy front, the global race to regulate stablecoins is intensifying. Hong Kong will introduce its stablecoin licensing regime in August, South Korea’s largest bank has filed trademarks for a consortium-backed stablecoin, and Hong Kong regulators are advancing frameworks for real-world-asset tokenisation and expanded crypto licensing. In the wake of the U.S. GENIUS Act, these initiatives point to a rapidly formalizing environment that should underpin broader adoption through the second half of 2025.

Other Information

Factsheet

Structure

Exchange Traded Product (ETP)

Minimum Subscription

1 unit

Management Fee

Performance Fee

20%

High Watermark

Yes; 348.11 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

Talk to Our Team Watch Video

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

Talk to Our Team Watch Video

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Performance

Risk Metrics

SIX Swiss Exchange, Wiener Börse, Börse Stuttgart

2%

CHF 222.74

FiCAS AG

Bitcoin Capital AG

15.07.2020

CHF 100.00

CHF

Basket Allocation

Other Information

How it works

Enter ISIN number

Order details

Review and confirm

Track your asset performance

Stay in the loop

2^%