What Bitcoin Capital AG does

Bitcoin Capital AG is a Swiss-registered (aktiengesellschaft) cryptocurrency exchange-traded product (ETP) issuer headquartered in Zug, Switzerland, operating as a subsidiary of FINMA-licensed asset manager FiCAS AG. Founded in 2020, the company pioneered the world's first actively managed crypto ETP with the launch of BTCA (15 FiCAS Active Crypto ETP), which dynamically allocates among the 15 largest cryptocurrencies by market capitalization. The company has since expanded to three products: BTCA, the BTCD (FiCAS Dynamic Crypto ETP, launched October 2023) which uses a proprietary Bitcoin Dominance Index framework to shift between Bitcoin and altcoins, and the BONK ETP (launched November 2025), a single-asset physically backed product providing 1:1 Bonk token exposure.

All products are listed on SIX Swiss Exchange under FMA-approved prospectuses, with secondary listings on Wiener Börse and Börse Stuttgart, and are distributed through a network of major Swiss and European financial institutions including UBS, Credit Suisse, Zürcher Kantonalbank, PostFinance, and Interactive Brokers. The revenue model is asset-based, combining management fees (1.5-2% annually) with performance fees (20% above high watermark) on actively managed products. The company also operates a B2B white-label structuring service for token foundations and asset managers, offering an 8-week token-to-ticker launch process. Since inception, Bitcoin Capital has recorded USD 500M+ in cumulative trading volume with zero security incidents, supported by institutional-grade custody through Coinbase Custody International and AMINA Bank.

Name

Bitcoin Capital AG

Legal name

Bitcoin Capital AG

Website

https://bitcoincapital.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange-Traded Products

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC)

Keywords

• Cryptocurrency ETPs
• Active crypto management
• Exchange-traded products
• Crypto asset issuance
• Swiss financial products

Headquarters

HQ city

Zug

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Recurring annual fees charged on assets under management across all ETP products. BTCA and BTCD charge 2% management fee; BONK charges 1.5% management fee.
2. Performance Fees: 20% performance fee above high watermark applied to actively managed ETPs (BTCA and BTCD). High watermark for BTCA is CHF 348.11; for BTCD is CHF 19.71. This creates alignment between issuer and investor interests.
3. White-Label ETP Structuring: Fee-based structuring services for third-party token projects and asset managers seeking to launch exchange-listed ETPs. Part of B2B partnership program with 8-week time-to-market.

Pricing tiers

Go-to-market motion1 record

Distribution channels11 records

Marketing channels7 records

Core offering

Bitcoin Capital AG issues and lists cryptocurrency Exchange-Traded Products (ETPs) on European stock exchanges, primarily SIX Swiss Exchange. The portfolio includes actively managed crypto ETPs (BTCA tracking the top 15 cryptocurrencies and BTCD allocating dynamically between Bitcoin and altcoins) and a single-asset physically backed ETP (BONK). The company also offers white-label ETP structuring services for token projects and asset managers via an 8-week token-to-ticker process.

Product overview

Bitcoin Capital AG is a Swiss issuer of cryptocurrency Exchange Traded Products (ETPs) that offers both actively managed and single-asset ETP products. The actively managed products include the 15 FiCAS Active Crypto ETP (BTCA), which tracks the top 15 cryptocurrencies by market cap, and the FiCAS Dynamic Crypto ETP (BTCD), which dynamically allocates between Bitcoin and altcoins based on Bitcoin Dominance signals. The single-asset ETP product is the Bonk ETP (BONK), providing 1:1 exposure to the BONK token on Solana. All products are listed on SIX Swiss Exchange, FMA approved, and offer institutional-grade custody with no wallets or keys required for investors.

Differentiator

Problem solved

Functional benefit

Products and services

• 15 FiCAS Active Crypto ETP (BTCA) The world's first actively managed crypto ETP that dynamically allocates among the 15 largest cryptocurrencies by market capitalization. A dedicated portfolio manager adjusts coin selection, weightings, and cash exposure based on market conditions. Targeted at retail and institutional investors seeking broad, regulated crypto exposure through traditional bank or brokerage accounts.
• FiCAS Dynamic Crypto ETP (BTCD) An actively managed crypto ETP driven by Bitcoin Dominance, designed to dynamically allocate between Bitcoin and a broad range of altcoins. Uses a proprietary Bitcoin Dominance Index framework to inform allocation decisions. Targeted at investors seeking diversified crypto exposure with active risk management.
• Bonk ETP (BONK) A 100% physically backed single-asset ETP that provides one-to-one exposure to Bonk (BONK), a meme token within the Solana ecosystem. Each share is fully backed by BONK held in secure, institutional-grade custody with Coinbase Custody International. Listed on SIX Swiss Exchange.
• White-Label ETP Structuring Service Fee-based structuring and issuance service enabling third-party token projects, asset managers, venture funds, and DAOs to launch regulated, exchange-listed crypto ETPs within an 8-week time-to-market. Includes evaluation consultation, structuring, listing, and ongoing management under FMA-approved prospectuses.

Quantifiable outcome

• Zero security incidents and no asset losses since 2020 launch
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core.

• Bonk, Inc.coreStrategic or Co-development Partner · 27 November 2025Bonk, Inc. partnered with Bitcoin Capital to launch the first BONK exchange-traded product on SIX Swiss Exchange. Bitcoin Capital developed the regulated ETP to support Bonk's digital asset treasury strategy, increasing liquidity, awareness, and institutional interest in the BONK ecosystem.
• FiCAS AGcoreStrategic or Co-development Partner · 15 July 2020FiCAS AG is the exclusive asset manager for Bitcoin Capital's actively managed ETPs (BTCA and BTCD). Based in Switzerland and licensed by FINMA, FiCAS applies discretionary investment strategies to navigate dynamic crypto markets. FiCAS developed the world's first actively managed crypto ETP concept and partnered with Bitcoin Capital for issuance and listing.
• Coinbase Custody InternationalcoreTechnology or IntegrationInstitutional-grade cryptocurrency custodian providing secure storage for Bitcoin Capital ETP assets. Applies multi-signature wallets, strict address whitelisting, and institutional-grade security procedures.
• AMINA Bank AGcoreTechnology or IntegrationRegulated Swiss custodian providing institutional-grade custody services for Bitcoin Capital ETPs alongside Coinbase Custody International.
• Flow Traders B.V.coreTechnology or IntegrationDesignated market maker for Bitcoin Capital ETPs (BTCA and BTCD), ensuring daily liquidity and tight spreads on SIX Swiss Exchange.
• Virtu Financial Inc.coreTechnology or IntegrationDesignated market maker and authorized participant for the BONK ETP, providing daily liquidity and tight spreads on SIX Swiss Exchange.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• 21Shares: Swiss-based crypto ETP issuer with one of the largest product ranges on SIX Swiss Exchange. Direct competitor offering both single-asset and index/thematic crypto ETPs to European retail and institutional investors, very similar distribution model.
• CoinShares: European digital asset investment firm with multiple crypto ETPs listed on European exchanges. Directly competes with Bitcoin Capital in active and passive crypto ETP products, with significant institutional and bank distribution.
• ETC Group: European crypto ETP issuer (now part of HANetf) with single-asset Bitcoin/Ethereum ETPs listed on European exchanges. Directly comparable single-asset physically-backed ETP structure and European distribution footprint.
• Bitwise Asset Management: Specialist crypto asset manager with multiple crypto ETPs and index funds primarily in the US, expanding into Europe. Comparable specialist mandate, though currently more weighted to US investors.
• Hashdex Asset Management: Issuer of crypto index and single-asset ETPs (e.g., Hashdex Bitcoin ETF, Nasdaq Crypto Index ETP in Europe). Directly comparable in offering diversified crypto exposure through listed products.

Broad incumbents

• WisdomTree Europe: Large global ETP sponsor with a growing crypto ETP suite (WisdomTree Bitcoin, Ethereum, etc.) listed across European exchanges including SIX. Broader incumbent with full traditional ETP catalogue alongside crypto exposure.
• VanEck: Global asset manager with multiple crypto ETPs (Bitcoin, Ethereum, Solana, etc.) including VanEck Crypto and Blockchain Innovators UCITS ETF. Larger incumbent with broad ETP range overlapping Bitcoin Capitals single-asset product.
• Invesco ETP Business: Large global ETP sponsor offering crypto basket ETPs (e.g., Invesco CoinShares Global Blockchain UCITS ETF) and single-asset crypto products on European exchanges. Broader incumbent with diversified ETP suite.

Others

• FiCAS AG: Parent company of Bitcoin Capital and the asset manager of its actively managed ETPs (BTCA and BTCD). Adjacent / enabling relationship as the portfolio management engine behind Bitcoin Capital's flagship products.

Regional players

• AMINA Bank AG (formerly SEBA Bank): Swiss-regulated digital asset bank providing custody and banking services for Bitcoin Capital ETPs. Comparable in Swiss crypto-financial-services niche; partly customer, partly ecosystem participant with overlapping Swiss crypto target market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Bitcapital_ch
• YouTubeyoutube.com/@bitcoincapital740?sub_confirmation=1
• LinkedInlinkedin.com/company/bitcoincapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bitcoin Capital AG