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CoinShares Launches Physically Backed Ethereum ETP With $75M in AUM
This is the firm’s second such product after its "BITC" bitcoin ETP was listed on the SIX exchange in January.
Asset manager CoinShares has launched a new physically backed Ethereum exchange-traded product (ETP).
STORY CONTINUES BELOW
- According to a Wednesday announcement, the CoinShares Physical Ethereum ETP is listing on the Swiss SIX exchange under the ticker “ETHE” and already has around $75 million in assets under management (AUM).
- Each ETHE unit is backed with 0.03 ETH at launch, while the product has a base fee of 1.25%.
- “Bringing innovative products like ETHE allows us to continue setting the industry standard for trust and transparency and provide institutions with easy access to industry-leading crypto investment vehicles," said Townsend Lansing, head of product at CoinShares.
- This is the firm’s second such product after the bitcoin ETP "BITC" was listed on SIX in January.
Read more: CoinShares Releases DeFi Index Token for Institutional Investors
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
