LISTED
CHF
sECONDARY MARKET
OPEN END

FiCAS Dynamic Crypto ETP

BTCD trades up to 15 selected digital assets as defined by the SIX Swiss Exchange in USD, CHF, and EUR with the aim of generating an absolute return and ultimately increasing the net asset value (NAV) of the ETP in the medium to long term. The product is a long-only strategy that is significantly influenced by the analysis of Bitcoin dominance.
ISIN
CH1295937705
KID
Base Prospectus
Factsheet
Cumulative Return
___.__%
Return since 1 month
__.__%
Return YTD
__.__%
Performance
Total
3M
YTD
1Y
Risk Metrics
BTCD
standard deviation
__%
maximum drawdown
__%
S&P 500
standard deviation
__%
standard deviation
__%
Historical Monthly Performance
Show/Hide
YearJanFebMarAprMayJunJulAugSepOctNovDecYTD
2023                  9.003.4914.8929.60
20240.6917.9310.33-21.323.22-3.63  1.88-11.748.794.0855.21-8.4348.38
20253.80-24.55-10.093.845.97-22.52
Objective
The product is a long-only strategy that is significantly influenced by the analysis of Bitcoin dominance. Bitcoin dominance dictates the asset allocation between Bitcoin and altcoins, with a primary focus on Bitcoin and shifts to altcoins led by favorable Bitcoin dominance trends.
TradingView's Market Cap BTC Dominance Index serves as a key metric for Bitcoin dominance trend analysis. The investment style is discretionary and there is no leverage.
LISTING
SIX Swiss Exchange
MANAGEMENT FEE
2%
NAV — MAY 31, 2025  
CHF 14.90
ASSET MANAGER
FiCAS AG
ISSUER
Bitcoin Capital AG
ISSUE DATE
20.10.2023
ISSUE PRICE
CHF 10.00
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
CH1295937705
Ticker
BTCD
FiCAS Expert  Team Market Commentary
Show/Hide
Market Review
May marked a decisive month for digital assets, with Bitcoin reclaiming the $100,000 level and setting a new all-time high at $111.6K, closing the month with an 11% gain.
Ethereum outperformed, rising 40.8% to $2,526, its strongest monthly return since November 2024. Institutional momentum continued to build, as Charles Schwab announced plans to offer spot crypto trading within 12 months. Morgan Stanley confirmed its crypto rollout via E*Trade, and Goldman Sachs re-entered the space by targeting tokenized treasuries and expanding into lending.
On the regulatory front, the GENIUS Act, a comprehensive U.S. stablecoin bill, is expected to clear the Senate. Stablecoins are now the third-largest holders of U.S. short-term securities. BlackRock’s iShares Bitcoin Trust recorded consecutive weeks of inflows, surpassing gold ETFs in cumulative demand.
‍
Adoption trends accelerated further. Arizona established a Strategic Bitcoin Reserve Fund, and Texas expanded its state-level Bitcoin reserve efforts. At the corporate level, MicroStrategy, Trump Media, GameStop, and Strive collectively allocated over $5 billion into Bitcoin for their treasury strategies, reinforcing BTC’s position as a balance sheet reserve asset.
Outlook
June has historically been a soft month for Bitcoin, with an average return of - 0.35%. This trend may continue as markets await the Federal Reserve’s interest rate decision on June 18. Consensus suggests no rate cut, with the benchmark likely to remain at 4.50 percent, maintaining a cautious environment for risk assets.
Stablecoin regulation and adoption will remain key themes. Momentum continues around new legislation in the United States, and stablecoins are gaining importance as institutional tools, especially within the short-term securities market. At the same time, corporate bond issuance is rising, alongside a growing trend of companies allocating capital to Bitcoin treasuries.
‍
Bitcoin’s supply on exchanges has declined sharply, from over 3.1 million in 2020 to 1.2 million today, even as the number of trading venues has increased. This sustained decline may set the stage for a new supply shock in the second half of 2025, particularly if institutional demand remains strong.

Other Information

Factsheet
Structure
Exchange Traded Product (ETP)
Minimum Subscription
1 unit
Management Fee
2%
Performance Fee
20%
High Watermark
Yes; 16.09 CHF
Administrator
Bitcoin Capital AG
Liquidity
Daily
Domicile
Switzerland
Executing Broker
Coinbase, AMINA Bank
Custodian
Coinbase, AMINA Bank
Stock Exchange
SIX Swiss Exchange
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

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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 TeamWatch Video
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