European digital asset manager CoinShares is expanding the reach of its physically-backed ETP portfolio with a new listing in Germany.
The digital asset manager started the year by launching a Bitcoin ETP named CoinShares Physical Bitcoin [BITC] earlier in January. Listed on Switzerland’s SIX Swiss Exchange, each ETP is physically backed by 0.001 Bitcoin.
Since then, the CoinShares Physical platform has launched Ethereum and Litecoin ETPs. CoinShares Physical Ether [ETHE] was backed with 0.03 ETH at the launching, while CoinShares Physical Litecoin [LITE] was backed with 0.2 LTC.
CoinShares chief revenue officer Frank Spiteri outlined that the CoinShares Physical platform now has over $380 Mln in assets under management and is operational in 11 countries.
The listing of CoinShares Physical Bitcoin, Ethereum, and Litecoin ETPs on Boerse Xetra follows approval from regulators to distribute the ETPs across the European Union, the announcement adds.
CoinShares’ passporting to Germany permitted CoinShares Physical ETPs’ entrance into Germany, Italy, Austria, Belgium, Luxembourg, Netherlands, Spain, France, Denmark, Finland as well as Norway.
“Focussing on market demand, we launched earlier this year, our institutional platform CoinShares Physical primarily in Switzerland and now in Europe,” CoinShares CEO Jean-Marie Mognetti outlined. The Boerse Xetra listing offers European institutional investors an entry point into digital assets with the credibility of CoinShares, he revealed.