Deutsche Börse Lists CoinShares Physically-Backed Crypto ETPs
- Users of Deutsche Börse Xetra will now be able to get exposure to BTC, ETH, and LTC through CoinShares three physically-backed ETPs.
- Passporting the ETPs to Germany will also allow them to enter ten other European markets, including Italy, Belgium, Luxembourg, and others.
Börse Frankfurt in Frankfurt, Germany, April 25, 2019. Shutterstock
London-based digital asset manager CoinShares has now listed three of its physically-backed exchange traded products (ETPs) on one of Germany’s largest exchanges, the company said in a press release on 7 June.
According to the announcement, the cryptocurrency fund’s Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) ETPs are now cross-listed on Deutsche Börse’s Xetra market, enabling investors to gain exposure to the crypto space without the need to set up crypto wallets. Since its launch in January, the firm’s physical platform has grown to over $380 million in assets under management, and now operates in eleven countries. CoinShare’s Chief Revenue Officer, Frank Spiteri, said in a statement:
“This cross-listing is another important step for CoinShares Asset Management, providing investors across Europe with easier access to digital assets. We look forward to leveraging the Company’s technology and expertise as we build on this momentum and move into new markets, investment exposures and strategic partnerships over the course of the year.”
The listing of CoinShares Physical crypto ETPs on Xetra follows approval from Swedish regulators, which greenlighted the ETPs distribution across the European Union. Now that they have been passported to Germany, CoinShares Physical ETPs will also gain entrance into Italy, Austria, Belgium, Luxembourg, the Netherlands, Spain, France, Denmark, Finland, and Norway.
The firm’s first ETP, named CoinShares Physical Bitcoin (BITC) was first launched in January on Switzerland’s SIX Swiss Exchange, and was physically backed by 0.001 BTC. CoinShares Physical Ethereum (ETHE) was launched in February, and was initially backed with 0.03 ETH, while CoinShares Physical Litecoin (LITE) was released in April and backed by 0.2 LTC.
Deutsche Börse Xetra now has one year of experience when it comes to crypto ETPs, as it listed ETC Group’s Bitcoin Exchange Traded Crypto (BTCE) on the exchange back in June 2020. Since then, the exchange has listed 15 ETPs from six different providers, covering Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
- Napoleon Asset Management was amongst the first to be licensed under AIMF, giving it passporting permission to market products and services across the EU.
- The acquisition will also expand CoinShares’ products with algorithmic trading and artificial intelligence tools developed by Napoleon.
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- Europe’s largest digital asset investment firm has become the latest member of the Pyth Network.
- CoinShares will contribute real-time pricing data to the network, eliminating the need for intermediaries.
- CoinShares will acquire Elwood’s entire issued capital for $17 million.
- Elwood’s equity research team will join CoinShares, but not changes will be implemented to the Elwood Index or the Invesco Blockchain ETF.