CoinShares’ Ethereum ETP is the second of such product after its “BITC” bitcoin ETP was listed on the Swiss SIX exchange in January.
February 25, 2021 | AtoZ Markets – Crypto-asset management company CoinShares has launched a new exchange-traded product (ETP) on the SIX under the ticker ETHE.
CoinShares Ethereum ETP is the second institutional-grade exchange product launched by the company after Bitcoin ETP . ETP on Ether is traded under the ticker ETHE and is backed by $75 million in assets.
CoinShares List Ethereum ETP on SIX With 1.25% Commission
Each ETHE will initially be backed by 0.03 ETH, which will allow investors to passively access Ethereum without actually holding the cryptocurrency. CoinShares Product Manager Townsend Lansing said:
“The introduction of innovative products like ETHE allows us to continue to set industry standards for trust and transparency and provide organizations with easy access to industry-leading cryptocurrency investment tools.”
The company notes that ETP is listed on the SIX with a base commission of 1.25%, below the industry standard of 2%. CoinShares Director of Profit, Frank Spiteri, noted:
“From the very beginning of 2021, we have witnessed the persistence of last year’s demand for digital assets from institutional investors. We are also seeing an increase in investor interest in Ethereum. “
CoinShares also announced plans to conduct an initial public offering on the Nasdaq First North Growth Market in Sweden. The company is positioning itself as the first major cryptoasset manager to be publicly traded on the stock exchange.
Earlier this month, CoinShares said that institutional investor inflows into cryptocurrencies in the first week of February totaled $ 245 million, with 80% of that amount being invested in ETH.
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