Deutsche Boerse’s Digital Stock Exchange Now Provides Exposure to Bitcoin via 21Shares’ ETP
Deutsche Boerse’s Xetra has listed a Bitcoin exchange-traded product (ETP) offered by Swiss-headquartered 21Shares, according to a recent press release.
The Frankfurt-based exchange is responsible for 95 percent of all stock trading in Germany.
Yuri Molchan21Shares strengthens its presence in Germany
It’s worth mentioning that the company ventured into Germany with its January listing on Boerse Stuttgart when it was still Amun AG.
The rebranding into 21Shares happened back in March to reflect its financial business (and the fact that only 21 mln Bitcoins can be in circulation).
21Shares’ managing director Laurent Kssis claims the addition of its product to Xetra has solidified the company’s position in Germany and Europe.
‘The listing on Xetra not only strengthens our current position in Germany but also opens up institutional-grade crypto products to the wider European and international markets. We look forward to bringing more novel asset classes to more demanding investors. Crypto is now ever more easy to access.’
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London-based ETC Group also launched its Bitcoin Exchange Traded Crypto (BTCE) back in June.
David Dinkins11 crypto ETPs
21Shares now has a suite of 11 cryptocurrency ETPs under its belt, with $60 million of combined assets under management.
ETPs are traded like ordinary shares that track the price of Bitcoin, but it’s important to differentiate them from more rigorously regulated exchange-traded funds (ETFs).
Apart from some distinctions in their legal structure, ETPs are always fully pegged to the value of the underlying asset.
Arman Shirinyan
Vladislav Sopov
Dan Burgin