21shares Launches Bitcoin Cash and Ethereum ETPs on Deutsche Boerse’s Xetra – Bitcoin News

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The cryptocurrency exchange traded products (ETP) provider 21shares AG, formerly known as Amun, has announced the introduction of two new crypto asset ETPs on Deutsche Börse’s Xetra. The 21shares ETPs use the cryptocurrency Ethereum under the ticker “21XE” and Bitcoin cash under the ticker “21XC”.

Products listed on Xetra that are traded with Bitcoin Cash and Ethereum Exchange

After the company’s two exchange-traded Bitcoin products (BTC), which were listed last year, 21shares AG is launching two new ETPs for the popular crypto assets Bitcoin Cash (BCH) and Ethereum (ETH). Ethereum is currently the second largest blockchain in terms of market valuation while Bitcoin Cash ranks eleventh. On February 3, 2021, the Zurich-based investment provider launched an ETP for the Crypto Asset Polkadot (DOT) on the SIX Swiss Exchange.

The new Bitcoin Cash (BCH) ETP is called “21XC” and the Ethereum (ETH) product is called “21XE”. Both made their debut on the Swiss stock exchange in mid-2019, and both assets are “fully backed by Coinbase as an independent regulated custodian with institutional credit,” according to 21shares. Together with all of the products under the 21share hood, corporate assets under management (AUM) will total $ 1 billion as of February 2021.

21 stocks to bridge the gap between institutional-grade products and other high-volume crypto assets

Hany Rashwan, the CEO of 21shares, said the company has been at the forefront of the crypto ETP space since the company was launched. “While other issuers continue to follow our moves to list a Bitcoin ETP on an exchange, we have had time to build the infrastructure and actively lobby for other innovative crypto assets and issues,” said Rashwan.

Rashwan added:

For this reason, we were the first to list an ETP and Bitcoin Cash ETP on the Swiss stock exchange and are now using our know-how to offer investors in the DACH region and beyond the same institutional reach, security and cost-effective opportunities Get exposure to crypto assets. After the extremely successful launch of the first Polkadot ETP a month ago, we are working on several more launches in the second and third quarters.

21shares also noted that Bitcoin (BTC) has seen massive growth in value since the coronavirus outbreak in March 2020. Institutional interest in crypto assets was also highlighted, with companies like PayPal, Microstrategy and Tesla on the agenda. 21shares stressed that financial instruments for BTC are already widespread and the company recognizes that there is a demand for alternative crypto asset products with large market caps.

“While there is already an abundance of Bitcoin financial products in the market, there is a significant shortage of institutional-grade products for other high-volume crypto assets,” said 21shares.

What do you think of 21shares, which is launching Ether and Bitcoin Cash ETPs on Deutsche Börse’s Xetra? Let us know what you think on this matter in the comments section below.

Tags in this story

21shares, 21XC, 21XE, Amun, BCH, Bitcoin (BTC), Bitcoin cash, Bitcoin cash BCH, ETH, ether, Ethereum, Ethereum (ETH), ETPs, exchange traded product, financial products, institutional quality, polkadot (DOT))

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