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CoinShares To Launch Physically Backed Ethereum ETP

Finance

thecryptobasic.com 25 February 2021 01:42, UTC
  
Reading time: ~1 m

Digital asset management company CoinShares has announced the launch of an physically backed exchange-traded product (ETP) based on Ethereum.

CoinShares Physical Ethereum under the ticker ETHE will be the company’s second cryptocurrency ETP.


Each share of ETHE at issuing is provided with 0.03 ETH. The volume of assets under ETP management will be approximately $75 million, which will allow institutional and corporate investors to invest in Ethereum.

Earlier, the company launched a similar product based on Bitcoin. It is traded on Switzerland’s largest stock exchange, the SIX Swiss Exchange.

In 2021, we see a continuation of last year’s demand for digital assets from institutions. We are also seeing an increase interest of investors in Ethereum.

said Frank Spiteri, Director of Earnings at CoinShares.

ETHE will also be listed on SIX Swiss Exchange, where it will have a base commission of 1.25%.


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