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21Shares lists Ethereum and Bitcoin Cash ETPs on Xetra | ETF strategy

Specialist in digital asset ETPs 21Shares has launched its Ethereum and Bitcoin Cash products on Xetra.

21Shares has listed its directly backed Ethereum and Bitcoin Cash ETPs on Xetra.

The 21Shares Ethereum ETP (21XE GY) And 21Shares Bitcoin Cash ETP (21XC GY) They are traded in euros and have expense ratios of 1.49% and 2.50% respectively.

Both products are settled through a central counterparty, which is not the case in the underlying cryptocurrency markets.

21Shares points out that a central clearing counterparty brings several benefits, including standardization, risk reduction and operational efficiency, which in turn improves liquidity and reduces trading costs compared to bilateral clearing.

The ETPs, which were originally launched on SIX Swiss Exchangeprovide direct secured access to “physical” Ether and Bitcoin Cash with token holdings stored by Coinbase in institutional-grade cold storage.

According to CoinDesk, Ethereum and Bitcoin Cash are the world’s second and ninth-largest cryptocurrencies by market capitalization, respectively. Ethereum has established itself as a leading platform for smart contracts, while Bitcoin Cash, the most established fork of Bitcoin, was developed to improve transaction processing and scalability compared to the original blockchain.

Similar to all digital asset ETPs, 21Shares’ products allow investors to access cryptocurrencies without having to deal with the technical challenges of interacting with cryptocurrency markets, such as setting up a digital wallet, managing cryptographic keys, or trading on unregulated crypto exchanges.

Hany Rashwan, CEO of 21Shares, commented: “While other issuers continue to follow our steps and list a Bitcoin ETP on an exchange, we have had time to build the infrastructure and actively engage in regulatory lobbying for other innovative crypto assets and issuances.

“That’s why we were the first to list an Ethereum and Bitcoin Cash ETP on the Swiss stock exchange. We are now leveraging our expertise to offer investors in the DACH region and beyond the same institutional reach, security and low-cost ways to get into crypto assets.”

The 21Shares Ethereum ETP has assets of $110 million. It will compete with the ETHetc – ETC Group Physical Ethereum ETC (ZETH GY)another centrally cleared, directly secured Ethereum ETP that is also listed on Xetra.

The assets under management of the 21Shares Bitcoin Cash ETP now amount to around 6.5 million US dollars.

21Shares offers a suite of 12 different single-asset and crypto basket ETPs, which together cover over $1 billion in assets under management.

Last month, the 21Shares Polkadot ETP (ADOT SW)the world’s first ETP offering access to DOT, the token underlying the innovative Polkadot multi-chain.

Rashwan added: “Following the highly successful launch of the first Polkadot ETP just a month ago, we are working on several more launches in Q2 and Q3 to accelerate the adoption of crypto assets into conventional asset allocations.”

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