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.”