21Shares Bitcoin ETP launches on Deutsche Boerse
The 21Shares Bitcoin ETP is listing on the official market of Deutsche Börse’s Xetra electronic venue from Thursday 2 July 2020.
21Shares AG has had a presence in the German market since the dual listing of seven of its ETPs on Börse Stuttgart since January 2020.
ABTC - with a track record of over 1.5 years and charging a low 1.49 per cent management fee - leaped institutional acceptance of the digital asset industry forward by being the first ETP listed on a regulated stock exchange (the largest Swiss stock exchange). Inspired by the pioneering work from the 21Shares team, other issuers followed suit with similar structures replicating the original Bitcoin ETP issued by 21Shares.
Laurent Kssis, Managing Director at 21Shares AG, says: “Our products have been available in Germany since we set foot at the beginning of the year thanks to all our German partners that made it possible. 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. We look forward to bringing more novel asset classes to more demanding investors. Crypto is now ever more easy to access.”
Michael Lie, Head of Digital Assets at Flow Traders, says: “Flow Traders has been working with 21Shares since November 2018 and views the increasing amount of crypto ETPs being listed in Europe as an extremely positive development for the market. As such it was a natural decision for us to participate as the Designated Sponsor on one of Europe’s largest exchanges. We are delighted to continue this effort and support 21Shares.”
This is not 21Shares’ first foray into regulated markets which complements an already successful accolade of listings on European stock exchanges including the first institutional-grade crypto basket (HODL) in November 2018. According to management, 21Shares anticipates to further dual list its signatory crypto basket ETP HODL once it gets regulatory clearance. In an otherwise unregulated crypto market, 21Shares AG continues to bring more transparency, protection, and integrity to investors by listing their fully-collateralised crypto ETPs on regulated stock exchanges.
21Shares already has a presence in Germany with its third global office staffed by four employees. As a result, it plans to accelerate more listings of its crypto ETPs. ABTC delivers physical bitcoin exposure already for more than a year and the central clearing counterparty (CCP) will only reinforce investors' concerns regarding security and clearing matters.