European digital asset supervisor CoinShares is increasing the attain of its bodily backed exchange-traded product (ETP) portfolio with a brand new itemizing in Germany.
The digital asset supervisor began the yr by launching a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on Switzerland’s SIX Swiss Alternate, every ETP is bodily backed by 0.001 Bitcoin.
Since then, the CoinShares Bodily platform has launched Ether and Litecoin ETPs. CoinShares Physical Ether (ETHE) was backed with 0.03 ETH at launch, whereas CoinShares Physical Litecoin (LITE) was backed with 0.2 LTC.
CoinShares chief income officer Frank Spiteri mentioned that the CoinShares Bodily platform now has over $380 million in belongings beneath administration and operates in 11 international locations.
The itemizing of CoinShares Bodily Bitcoin, Ether and Litecoin ETPs on Boerse Xetra follows approval from regulators to distribute the ETPs throughout the European Union, the announcement reads.
CoinShares’ passporting to Germany enabled CoinShares Bodily ETPs’ entrance into Germany, Italy, Austria, Belgium, Luxembourg, Netherlands, Spain, France, Denmark, Finland and Norway.
“Focussing on market demand, we launched earlier this yr, our institutional platform CoinShares Bodily first in Switzerland and now in Europe,” CoinShares CEO Jean-Marie Mognetti mentioned. The Boerse Xetra itemizing presents European institutional buyers an entry level into digital belongings with the credibility of CoinShares, he added.
Deutsche Boerse Xetra isn’t any stranger to cryptocurrency ETPs. Final yr, London-based ETC Group introduced the listing of its Bitcoin Exchange Traded Crypto (BTCE) on the alternate. It was additionally considered one of two European exchanges together with SIX to listing New York-based asset supervisor WisdomTree’s physically backed Ether ETP.