21Shares partners with German brokerage to offer crypto ETPs for savings accounts

Published at: July 13, 2021

Investment product issuer 21Shares has joined forces with comdirect, a leading online brokerage in Germany, to bring its cryptocurrency exchange-traded products, or ETPs, to savings accounts. 

The partnership means that comdirect’s nearly 3 million customers will be able to integrate physically-backed crypto ETPs into their Spar savings accounts. 21Shares claims this is the first such instance where investors can gain crypto exposure in their savings accounts.

Marco Infuso, a managing director at 21Shares, said the new product offering will enable comdirect clients to include crypto in their retirement planning and will also help onboard investors who have been apprehensive about dabbling in Bitcoin (BTC) and other cryptocurrencies due to a lack of investment options.

“Empowering people to choose how they allocate their investments for their retirement has led to such a project to materialise,” he said. “This is very exciting for any investors who have been thinking about purchasing bitcoin but did not offer the proper investment tools to store them successfully in a savings plan.

21Shares and other crypto asset firms have been working to integrate digital assets into the traditional finance sphere. Bitcoin ETPs have proven to be a popular option for investors seeking alternative exposure to cryptocurrencies.

Back in 2019, 21Shares became the first crypto issuer to list a fully fully collateralized Bitcoin ETP on German exchanges. Just last month, the company teamed up with asset manager Ark Invest to file for a Bitcoin exchange-traded fund in the United States.

Related: Investment product issuer 21Shares will list Bitcoin ETP on Aquis Exchange

Although the United States Securities and Exchange Commission has yet to approve a Bitcoin ETF, regulators could begin softening their stance over the next few years, according to Todd Rosenbluth. The head of ETF and mutual fund research believes a U.S. Bitcoin ETF could be approved by 2023.

Tags
Bitcoin
Investments
Germany
Savings Accounts
Related Posts
Bitcoin-based security token offering approved in Germany
German financial regulators have approved a security token offering (STO) based on a Bitcoin (BTC) sidechain. Germany’s Federal Financial Supervisory Authority (BaFin) has greenlighted the EXOeu token by game publisher Exordium, making local retail investors eligible to participate in the sale on Stokr, a major European digital marketplace. German investors can invest in EXOeu via Stokr with a minimum investment amount of $100. EXOeu is the second STO ever approved for the German market on Stokr after BaFin approved an STO by parking network ParkinGO last year. Launched in January 2021, the EXOeu security token is raising funds for the …
Technology / Sept. 17, 2021
Deutsche Boerse-owned Eurex debuts Bitcoin futures trading
Eurex, a derivatives exchange owned by German stock market operator Deutsche Boerse, has debuted cryptocurrency derivatives trading with ETC Group’s Bitcoin (BTC) exchange-traded note (ETN) futures product. Eurex officially announced Monday the launch of the Bitcoin ETN Futures contract developed by London-based crypto derivatives issuer ETC Group. “As the first step in our portfolio of crypto derivatives, the offering is the first regulated market in Bitcoin-related derivatives in Europe,” Eurex said. Trusted path to #crypto: today, we launched #Bitcoin ETN #Futures. As the first step in our portfolio of #CryptoDerivatives, the offering is the first regulated market in Bitcoin-related #derivatives …
Bitcoin / Sept. 14, 2021
German asset manager Union Investment seeks BTC exposure for several funds
Union Investment, a $500 billion asset manager, is planning to add Bitcoin (BTC) to several investment funds as part of a targeted pilot program for its institutional clients, offering compelling evidence that crypto is becoming more mainstream in Europe's largest economy. The Frankfurt-based institution told Bloomberg on Monday that it is considering adding BTC to a small number of investment funds that will only be available to private investors. For each fund, Bitcoin exposure will be limited to no more than 2% of total assets. Portfolio manager Daniel Bathe said the new investment strategy is likely to commence in the …
Bitcoin / Sept. 6, 2021
Germany's financial regulator issues retail crypto investment warning
Germany’s Federal Financial Supervisory Authority, or BaFin, has warned investors about the risks involved in cryptocurrency investments. In a consumer protection alert issued on its website on Friday, the regulator offered a cautionary tale about crypto involvement on the part of retail investors. As part of its statement, BaFin echoed similar admonitions espoused by several European regulators including the European Securities and Markets Authority and the European Banking Authority. According to BaFin, retail investors need to be aware of the risks of incurring 100% losses from their crypto investments. While European Union lawmakers are still working toward creating an EU-wide …
Bitcoin / March 19, 2021
Germany outlines favorable tax guidelines, gains on BTC and ETH sold after a year tax-free
The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction on the tax requirements for acquiring, trading and selling cryptocurrencies. The key takeaway is that individuals who sell BTC or ETH more than 12 months after acquisition will not be liable for taxes on the sale if they realize a profit. Parliamentary State Secretary Katja Hessel also addressed questions around the long-term staking of cryptocurrencies: “For private individuals, the sale of purchased Bitcoin and Ether is tax-free after …
Technology / May 12, 2022