21Shares Bitcoin ETP Gets Listed on Deutsche Boerse's Xetra; Coinbase Selected as the Digital Asset Custodian

Deutsche Boerse has listed a Bitcoin exchange-traded product (ETP) offered by 21Shares, a Swiss-based company focused on financial product services. This Bitcoin ETP will debut on the exchange's electronic trading venue, Xetra, on June 2 in a bid to attract more institutional investors to the 21Shares AUM. 21Shares MD, Laurent Kssis noted,

“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.”

The Deutsche Boerse Group runs two trading venues, which include the Frankfurt Stock Exchange and Xetra, the market in which Bitcoin ETP's will be listed. Notably, these two marketplaces make up the third-largest trading ecosystem in Europe after Euronext and London Stock Exchange. According to market data, Xetra alone facilitated £150 billion worth of derivatives and equity transactions in May.

With a regulated exposure to BTC, the 21Shares ETP's might further boost the liquidity capacity of Deutsche Boerse. Such services are only rolled by a handful of crypto entities in Europe. In the U.S, it is even harder to integrate regulated ETF's based on crypto assets due to the strict approach by the SEC.

Coinbase Custody to Serve as the Digital Storage

Following the listing on Deutsche Boerse, 21Shares has selected Coinbase Custody as its digital asset storage provider. Coinbase shared this news on a medium post today as 21Shares prepares for the Bitcoin ETP trading to commence in less than 24 hours. The blog goes on to highlight that 21Shares settled on Coinbase, given their value proposition in line with launching a Bitcoin ETP.

“21Shares selected Coinbase Custody after reviewing our institutional-grade offline storage solution, which includes world-class security, regulatory compliance, and insurance coverage…

we are excited to be the chosen custodian for the 21Shares Bitcoin ETP, Europe’s first physically-backed bitcoin ETP.”

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Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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