Digital asset manager CoinShares has listed three cryptocurrency exchange-traded products (ETPs) on the German Börse Xetra exchange.
CoinShares, Europe’s largest digital asset manager, announced yesterday it had listed three cryptocurrency ETPs on the German Börse Xetra exchange. This latest development means that cryptocurrency ETPs are now available in 11 European countries.
“CoinShares (“the Company”) (Nasdaq First North Growth Market: CS), Europe’s largest digital asset investment firm, today announced that three of the company’s recently launched physically-backed exchange-traded products (ETPs) have cross-listed on Germany’s Börse Xetra exchange,” the company said in its blog post.
The digital asset management firm listed the ETPs for Bitcoin, Ethereum and Litecoin. CoinShares is able to list the ETPs on the German Börse Xetra exchange thanks to the approval obtained from the Swedish regulator. The approval enables CoinShares to distribute its crypto ETPs on platforms across the European Union (EU).
At the moment, the CoinShares crypto ETPs are available to traders and investors in Sweden, Spain, France, Austria, the Netherlands, Italy, Norway, Denmark, Germany, Finland and Luxembourg.
Institutional investors have been clamouring for ways to gain exposure to cryptocurrencies, and a popular way is via the exchange-traded products. CoinShares launched its crypto ETP physical platform in January 2021, and it has grown massively, controlling over $380 million in assets under management (AUM). The digital asset manager is also looking to expand its presence and make the crypto ETPs available to investors in other European countries.
Chief Executive Officer at CoinShares, Jean-Marie Mognetti, said: “Bringing this platform on the German leading exchange Xetra is offering European institutional investors an entry point into digital assets whilst benefiting from the credibility and track record of CoinShares International, a Nasdaq OMX listed company.”
Several investors want to gain access to cryptocurrencies via exchange-traded funds (ETFs). However, with some regulatory agencies not looking kindly towards the crypto market, they have to settle for ETPs for now.