CoinShares, a European digital asset management company, is expanding the scope of its physical-backed exchange-traded product (ETP) portfolio with a new listing in Germany.
According to one announcement On Monday, CoinShares physical bitcoin (Bitcoin), ether (Ethereum) And Litecoin (LTC) ETP have been cross-listed on the major German exchange Deutsche Boerse Xetra.
The digital asset management company launched a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on six Swiss exchanges in Switzerland, each ETP is backed by 0.001 Bitcoin in kind.
Since then, the CoinShares Physical platform has launched Ether and Litecoin ETP. CoinShares Physical Ethereum (ETHE) was backed by 0.03 ETH at the time of launch, and CoinShares physical Litecoin (LITE) Support 0.2 LTC.
Frank Spiteri, chief revenue officer of CoinShares, said that the CoinShares Physical platform now manages more than $380 million in assets and operates in 11 countries.
The announcement stated that the listing of CoinShares physical Bitcoin, Ethereum and Litecoin ETPs on Boerse Xetra was after the regulatory authorities approved the distribution of ETPs throughout the European Union.
The CoinShares entry pass to Germany enables the CoinShares entity ETP to enter Germany, Italy, Austria, Belgium, Luxembourg, the Netherlands, Spain, France, Denmark, Finland and Norway.
“Focusing on market needs, we launched our institutional platform CoinShares Physical earlier this year, first in Switzerland and now in Europe,” said Jean-Marie Mognetti, CEO of CoinShares. He added that the listing of Boerse Xetra provides European institutional investors with an entry point into digital assets and has the credibility of CoinShares.
Deutsche Börse Xetra is no stranger to cryptocurrency ETP.Last year, London-based ETC Group announced Encrypted listing on its Bitcoin exchange (BTCE) on the exchange.It is also one of two European exchanges and six asset management companies listed in New York WisdomTree’s Physically Supported Ethernet ETP.