Plus500 (LSE: PLUS), a global multi-asset fintech group operating proprietary technology-based trading platforms, has expanded its diverse product offering by introducing a range of Spot Bitcoin (BTC) exchange-traded funds (ETFs) for customers.
It follows the landmark approval of 11 Spot BTC ETFs by the US Securities and Exchange Commission (SEC) in January 2024, which gave the green light for Bitcoin ETFs to be listed in the US with major players in the financial industry such as Grayscale, BlackRock, Fidelity, Bitwise and others.
The SEC approval represents a transformative development for the cryptocurrency industry as it seeks to enhance its legitimacy and establish a robust regulatory framework. Bitcoin ETFs allow traders to diversify their exposure to Bitcoin via a basket of securities.
Spot BTC ETF CFDs on the Plus500 trading platform
Plus500’s proprietary technology allowed it to respond swiftly to the SEC’s announcement earlier this year and it was one of the first companies to allow clients to begin trading Spot BTC ETF CFDs (Contracts for Difference) on its OTC trading platform.
Plus500 was one of the world’s first online trading platforms to offer cryptocurrency CFDs in 2013. Since then, as the global market for cryptocurrencies has evolved and gained wider acceptance, the Group has continued to broaden its product offering by providing CFDs on cryptocurrency-related assets.
The addition of the Spot BTC ETF CFDs enhances Plus500’s already comprehensive selection of crypto-related CFDs, affirming its commitment to providing best-in-class, intuitive and secure trading solutions for its customers, enabling them to gain exposure to the digital currency space in multiple ways.
As a responsible and trusted market leader with a focus on maintaining industry leading governance and controls, Plus500 ensures its clients can access a wide range of innovative tools and resources to better manage risk when trading Spot BTC ETF CFDs, such as Stop Limit, Stop Loss, Guaranteed Stop, and Trailing Stop orders.
David Zruia, Chief Executive Officer at Plus500, said: “We are thrilled to further broaden and diversify our industry leading OTC trading platform with all 11 Spot BTC ETF CFDs, further enhancing our product offering and delivering on our wider strategy of developing new products and deepening relationships with our customers. This expansion not only broadens our portfolio but also reinforces our dedication to providing our customers with greater choice and improved market accessibility.”
The newly-added products form a key part of Plus500’s comprehensive suite of trading products, service and features, underpinned by our market-leading technology, which also include a variety of other crypto-based CFDs with underlying assets including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), Avalanche (AVAX), and the Crypto 10 Index, among others.
The evolution of Bitcoin as a digital innovation
Since its inception in 2009, Bitcoin has embarked on a remarkable journey, evolving into a major financial asset which is recognised worldwide. Throughout the years, its path has been marked by significant fluctuations in value, reaching an all-time high price of $73,084 on March 13, 2024.
Meanwhile, the SEC’s endorsement of 11 Spot BTC ETFs has further validated its security and market maturity, heralding a new era in the growth of this digital currency. The recent ‘Bitcoin Halving Event’ further ensured the scarcity of this digital asset, thereby controlling supply levels while potentially supporting its long-term value stability.
To find out more about trading Spot BTC ETFs CFDs with Plus500, visit the website.
About Plus500
Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including OTC (“Over-the-Counter” products, namely Contracts for Difference (CFDs)), share dealing, as well as futures and options on futures.
The Group retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, the Seychelles, the United States, Estonia, Japan, the UAE and the Bahamas and through its OTC product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade its OTC products in more than 60 countries and in 30 languages.
Plus500’s trading platforms are accessible from multiple operating systems (iOS, Android and Windows) and web browsers. Customer care is, and has always been, integral to Plus500. As such, OTC customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for OTC trading platform users and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits, while limiting capital losses.
Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index. www.plus500.com.