Saturday, December 3, 2022
HomeCrypto NewsMarketCoinShares To Launch Physically Backed Ethereum ETP

CoinShares To Launch Physically Backed Ethereum ETP

- Advertisement -
Follow-Us-On-Google-News

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%.

 

- Advertisement -
Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.