Amundi selects CFB index to price first physical crypto ETP
Amundi has launched the Amundi Bitcoin ETP (Euronext ticker: BTCA) giving investors exchange-traded exposure to Bitcoin through a physically backed product - listed on Euronext Paris.
The ETP's Bitcoin custodian is CACEIS, a Crypto Asset Service Provider (CASP), approved by France’s ACPR, for the custody and administration of digital assets under the EU's MiCA framework.
BTCA is designed to provide access to Bitcoin’s price performance through a traditional securities-market instrument.
The launch provides institutions with another route to Bitcoin exposure in Europe through the ETP format. Rather than requiring direct holding of Bitcoin, private-key management, or direct interaction with crypto trading venues, the product packages exposure inside a listed instrument that can be accessed through existing market infrastructure.
The structure matters for investors seeking operational simplicity. The ETP format does not alter the underlying volatility or risk profile of Bitcoin, but it does change the way exposure is accessed, held, and monitored within portfolios.
The Amundi Bitcoin ETP uses the CME CF Bitcoin Reference Rate, or BRR, as its Bitcoin reference price.
Administered by CF Benchmarks, BRR is a Registered Benchmark under the UK Benchmarks Regulation (BMR) framework. It has been calculated since November 2016 and is the most liquid Bitcoin price for institutional risk settlement, having settled some $4.0 trillion in cumulative notional volume of CME Bitcoin futures since inception of the contracts in December 2017.
BRR’s transparent, rules-based architecture and proven replicability furnish Amundi Bitcoin ETP with the most accurate and efficient Bitcoin pricing mechanism available.
Amundi’s Bitcoin ETP is a material extension of listed digital asset access by one of Europe’s largest asset managers. The launch offers investors another physically backed Bitcoin product, with valuation anchored to a benchmark already used across institutional crypto products and derivatives markets.
For CF Benchmarks, the listing reinforces the role of the CME CF Bitcoin Reference Rate (BRR) as the core pricing infrastructure for regulated and exchange-traded Bitcoin exposure.
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.
Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.
Amundi Bitcoin ETP (Euronext ticker: BTCA) provides exchange-traded exposure to Bitcoin through a physically backed product that references the CME CF Bitcoin Reference Rate (BRR).

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