CoinShares lists physically-backed crypto ETPs on German exchange



European digital asset supervisor CoinShares is increasing the attain of its physically-backed exchange-traded product (ETP) portfolio with a brand new itemizing in Germany.

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

The digital asset supervisor began the 12 months by launching a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on Switzerland’s SIX Swiss Exchange, every ETP is bodily backed by 0.001 Bitcoin.

Since then, the CoinShares Physical platform noticed the launch of Ether and Litecoin ETPs. CoinShares Physical Ethereum (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 stated that the CoinShares Physical platform now has over $380 million in property beneath administration and operates in eleven nations.

The itemizing of CoinShares Physical Bitcoin, Ethereum, and Litecoin ETPs on Boerse Xetra follows approval from regulators to distribute the ETPs throughout the European Union, the announcement reads.
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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 stated. The Boerse Xetra itemizing presents European institutional traders an entry level into digital property with the credibility of CoinShares, he added.

Deutsche Boerse Xetra is not any stranger to cryptocurrency ETPs. Last 12 months, London-based ETC Group introduced the listing of its Bitcoin Exchange Traded Crypto (BTCE) on the exchange. It was additionally considered one of two European exchanges together with SIX to record New York-based asset supervisor WisdomTree’s physically-backed Ether ETP.