Wednesday, April 21, 2021
Home Crypto News Market CoinShares To Launch Physically Backed Ethereum ETP

CoinShares To Launch Physically Backed Ethereum ETP

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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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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

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