European digital asset manager CoinShares is expanding the reach of its physically backed exchange-traded product (ETP) portfolio with a new listing in Germany.
Digital Asset Manager started the year a . by launching Bitcoin ETP Name CoinShares Physical Bitcoin (BITC) listed on Switzerland’s SIX Swiss exchange in January, each ETP is physically backed by 0.001 bitcoin.
Since then, the CoinShares Physical platform has seen the launch of Ether and Litecoin ETPs. CoinShares Physical Ethereum (ETHE) had support of 0.03 ETH at launch, while CoinShares Physical Litecoin (Lite) was supported by 0.2 LTC.
CoinShares Chief Revenue Officer Frank Spiteri said the CoinShares Physical platform now has over $380 million in assets under management and operates in eleven countries.
Boerse Xetra lists Bitcoin, Ethereum, and Litecoin ETPs on CoinShares Physical following approval from regulators to distribute ETPs in the European Union, the announcement reads.
CoinShares’ passport to Germany enabled CoinShares’ physical ETPs to be entered into Germany, Italy, Austria, Belgium, Luxembourg, the Netherlands, Spain, France, Denmark, Finland and Norway.
“Earlier this year, we launched our institutional platform, CoinShares Physical, first in Switzerland and now in Europe, focusing on market demand,” said Jean-Marie Mognetti, CEO of CoinShares. He added that the Boerse Xetra listing provides European institutional investors with an entry point into digital assets with the credibility of CoinShares.
Deutsche Boerse is no stranger to the Xetra cryptocurrency ETP. Last year, London-based ETC Group announced List your bitcoin exchange traded crypto (BTCE) on the exchange. It was one of two European exchanges along with Sixt to list the New York-based asset manager. WisdomTree’s Physically Backed Ether ETP.