Europe’s Third-Largest Exchange Lists 21Shares’ Bitcoin ETP

Francisco Memoria

Europe’s third-largest exchange, the Deutsche Boerse, has listed 21Shares’ bitcoin exchange-traded product (ETP) on its electronic trading venue, Xetra.

According to a press release the Bitcoin ETP, ABTC, has a track record of over 1.5 years and charges a 1.49% management fee. It was the first ETP listed on a regulated stock exchange, the SIX Swiss exchange. 21Shares, formerly known as Amun, has launched other products that track cryptoassets, with some tracking multiple assets.

As CryptoGlobe reported, earlier this year it launched an inverse bitcoin ETP allowing traders to short the flagship cryptocurrency. 21Sahres already listed seven of its ETPs on retail-oriented Boerse Stuttgart, Germany’s second-largest exchange, earlier this year, after getting regulatory approval to do so.

Commenting on the new listing on Xetra, 21Shares’ managing director Laurent Kssis said:

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.

The Deutsche Boerse Group has two trading platforms: Xetra and the Frankfurt Stock Exchange, which together count as the third-largest trading platform in Europe, behind Euronext and the London Stock Exchange.

Xetra, according to Deutsche Boerse’s data, has traded over €150 billion (around $163. billion) worth of equities and derivatives in May, and in December 2019 its trading volume was of approximately €300 billion (roughly $336.75 billion).

21Shares’ ETPs were already listed on other exchanges, but according to Kssis most institutions did not have easy access to the exchanges it was in, as these are regional trading platforms.  Xetra has a greater international reach, which could help the Bitcoin ETP become accessible to other investors around the world.

Swiss institutions currently hold around 80% of 221Shares’ assets under management, Kssis revealed. Bitcoin ETPs give investors exposure to BTC in a regulated asset-class, without having to manage private keys or public addresses.

Featured image via Pixabay.