The cryptocurrency exchange-traded merchandise (ETP) supplier 21shares AG, previously generally known as Amun, has introduced the launch of two new crypto asset ETPs on Deutsche Boerse’s Xetra. The 21shares ETPs will leverage the cryptocurrencies ethereum below the ticker “21XE,” and bitcoin money below the ticker “21XC.”
Bitcoin Money and Ethereum Trade Traded Merchandise Listed on Xetra
Following the agency’s two bitcoin (BTC) exchange-traded merchandise listed final 12 months, 21shares AG is launching two new ETPs for the favored crypto-assets bitcoin money (BCH) and ethereum (ETH). Ethereum is presently the second-largest blockchain, by way of market valuation, whereas bitcoin money holds the eleventh place. On February 3, 2021, the Zurich-based funding supplier launched an ETP for the crypto asset polkadot (DOT) on the Swiss alternate SIX.
The brand new bitcoin money (BCH) ETP will probably be known as “21XC” and the ethereum (ETH) product will probably be known as “21XE.” Each debuted on the Swiss inventory market in mid-2019, and each property are “totally collateralised utilizing Coinbase as unbiased regulated institutional-grade custodian,” 21shares notes. Collectively with all of the merchandise below 21share’s hood, the corporate property below administration (AUM) is $1 billion as of February 2021.
21shares to Fill the Void of Institutional-Grade Merchandise for Different Massive-Quantity Crypto Property
Hany Rashwan, the CEO of 21shares mentioned that the corporate has been on the forefront of the crypto ETP house because the agency’s introduction. “Whereas different issuers proceed to comply with our steps in itemizing a Bitcoin ETP on a inventory alternate, we had time to construct the infrastructure and actively conduct regulatory lobbying for different revolutionary crypto property and issuances,” Rashwan detailed.
Rashwan additional added:
This is the reason we had been the primary to record an ether and bitcoin money ETP on the Swiss inventory alternate and we at the moment are leveraging our experience to supply traders within the DACH area and past with the identical institutional attain, security, and cost-effective methods to realize publicity to crypto-assets. After the immensely profitable launch of the primary Polkadot ETP only a month in the past, we’re engaged on a number of extra launches within the second and third quarter.
21shares additionally famous that because the outbreak of the coronavirus in March 2020, bitcoin (BTC) has seen an enormous improve in worth. It additionally emphasised the institutional curiosity in crypto property with companies like Paypal, Microstrategy, and Tesla leaping on the bandwagon. 21shares highlighted that monetary autos for BTC are already extensively obtainable, and the corporate acknowledges that there’s a requirement for merchandise devoted to different crypto property with massive market caps as nicely.
“Whereas there may be already an abundance of Bitcoin monetary merchandise in the marketplace, there’s a important lack of institutional-grade merchandise for different large-volume crypto property,” 21shares mentioned.
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