CoinShares — Europe’s largest digital asset investment firm — announced today that its Bitcoin, Ethereum and Litecoin physically-backed exchange traded products have cross-listed on Germany’s Börse Xetra exchange.
- CoinShares, which is listed on the Nasdaq First North Growth Market, introduced a Bitcoin ETP — the first of its ETPs — on Switzerland’s SIX Exchange in January. The ETPs are physically backed, with the underlying digital assets in the custody of Komainu, an institutional-grade digital asset custodian that is a joint venture between global investment bank Nomura, digital asset security firm Ledger and CoinShares. An ETP, like an exchange-traded fund, is a financial instrument traded on a stock exchange.
- The listing of CoinShares’ physical Bitcoin, Ethereum and Litecoin ETPs on the Börse Xetra follows approval granted for the company to distribute ETPs across the European Union, and provides institutional investors with passive exposure to digital assets.
- “After launching in January, the CoinShares physical platform now has over [U.S.]$380m in assets under management and is passported to 11 countries,” said CoinShares Chief Revenue Officer Frank Spiteri in a statement.
- CoinShares’ ETP listings join a growing number of ETPs on European exchanges. WisdomTree, an asset manager headquartered in New York, announced this month that its physically-backed Bitcoin and Ether ETPs, which are already listed on Germany’s Börse Xetra and Switzerland’s SIX, have listed on Euronext exchanges in Paris and Amsterdam.
See related article: Europe’s CoinShares launches XRP exchange traded product