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June 7, 2021 Coin Telegraph

21shares

The announcement comes the same day as ETC Group’s Bitcoin ETP began trading on the same exchange.

Switzerland-based 21Shares, formerly known as Amun, has said it will make its Bitcoin (BTC) exchange-traded product available to traders in the United Kingdom through the Aquis Exchange.

According to an announcement from 21Shares, its Bitcoin exchange-traded product (ETP) will be available to professional investors on the Aquis Exchange this summer. U.K.-based firm GHCO will be acting as the crypto ETP’s liquidity provider, with 21Shares saying the product would be “engineered like an [exchange-traded fund].”

“ETPs trade on exchanges in a similar manner to a listed stock and institutional investors in the U.K. will get exposure to Bitcoin via a regulated framework and structure which they are already accustomed to,” said 21Shares. “The ETP has been designed to provide institutional U.K. investors with secure and cost-effective exposure to Bitcoin without the associated Bitcoin custody and security challenges.”

21Shares reported more than $1.5 billion in assets under management across 14 ETPs available on European stock exchanges. One unit of the firm’s Bitcoin ETP on Aquis will reportedly represent exposure to 0.00035 BTC, or roughly $12.54 at the time of publication.

A few companies have begun expanding their crypto products to the U.K. market. Also on Monday, crypto investment manager ETC Group’s Bitcoin ETP began trading on the Aquis Exchange in London and Paris. However, the country’s financial watchdog, the Financial Conduct Authority, banned the sale of crypto derivatives to retail traders in January.

CoinShares lists physically-backed crypto ETPs on German exchange

June 7, 2021 Coin Telegraph

bitcoin etp

Deutsche Boerse Xetra is listing CoinShares physical Bitcoin, Ether, and Litecoin ETPs.

European digital asset manager CoinShares is expanding the reach of its physically-backed exchange-traded product (ETP) portfolio with a new listing in Germany.

According to an announcement on Monday, CoinShares Physical Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) ETPs have cross-listed on major German exchange Deutsche Boerse Xetra.

The digital asset manager started the year by launching a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on Switzerland’s SIX Swiss Exchange, each ETP is physically backed by 0.001 Bitcoin.

Since then, the CoinShares Physical platform saw the launch of Ether and Litecoin ETPs. CoinShares Physical Ethereum (ETHE) was backed with 0.03 ETH at launch, while CoinShares Physical Litecoin (LITE) was backed with 0.2 LTC.

CoinShares’ chief revenue officer Frank Spiteri said that the CoinShares Physical platform now has over $380 million in assets under management and operates in eleven countries.

The listing of CoinShares Physical Bitcoin, Ethereum, and Litecoin ETPs on Boerse Xetra follows approval from regulators to distribute the ETPs across the European Union, the announcement reads.

CoinShares’ passporting to Germany enabled CoinShares Physical ETPs’ entrance into Germany, Italy, Austria, Belgium, Luxembourg, Netherlands, Spain, France, Denmark, Finland and Norway.

“Focussing on market demand, we launched earlier this year, our institutional platform CoinShares Physical first in Switzerland and now in Europe,” CoinShares CEO Jean-Marie Mognetti said. The Boerse Xetra listing offers European institutional investors an entry point into digital assets with the credibility of CoinShares, he added.

Deutsche Boerse Xetra is no stranger to cryptocurrency ETPs. Last year, London-based ETC Group announced the listing of its Bitcoin Exchange Traded Crypto (BTCE) on the exchange. It was also one of two European exchanges along with SIX to list New York-based asset manager WisdomTree’s physically-backed Ether ETP.

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