European digital asset manager CoinShares continues to actively expand its physically backed cryptocurrency exchange-traded product offering with a new Litecoin (LTC) ETP. According to an announcement on Tuesday, CoinShares has launched its CoinShares Physical Litecoin. Listed under the ticker symbol LITE, each unit of the Litecoin ETP is backed with 0.2 LTC ($45) at launch, providing investors with passive exposure to the Litecoin network’s native asset. The new investment product will be initially listed on Switzerland’s regulated crypto exchange SIX Swiss Exchange with a base fee of 1.50%, CoinShares said. LITE is now listed on Bloomberg, with an opening price …
21Shares, a Switzerland-based provider of cryptocurrency exchange-traded products, or ETPs, has recorded a 100% growth in assets under management over the past two weeks. The company announced Monday that it has passed the $1 billion mark in assets under management across its diversified 12 crypto-asset ETPs. 21Shares CEO Hany Rashwan said that the company has seen a meteoric rise in its crypto ETP products recently, doubling its AUM in less than two weeks. The company previously announced that 21Shares broke $500 million in AUM on Feb. 8. According to the announcement, the massive surge in 21Shares’ crypto ETP business is …
Deutsche Borse’s electronic trading platform, Xetra, is preparing to launch its first Ether (ETH)-based exchange-traded products, or ETPs. According to data from Xetra, the platform is set to debut trading of two Ether ETPs — ETC Group’s Ether exchange-traded commodity, or ETC, product (ZETH) and 21Shares’ Ethereum ETP (AETH) — on Tuesday. A spokesperson for Deutsche Borse told Cointelegraph that the two products will be the first Ether ETPs to ever be listed on Xetra. Alongside AETH, Xetra will be also listing 21Shares’ Bitcoin Cash (BCH) ETP, the firm’s global head of ETP, Laurent Kssis, told Cointelegraph. “As of tomorrow …
For those of us involved in the cryptocurrency space, we've gotten used to the fast-paced nature of this rapidly growing industry. New technology quickly becomes old, bright shiny projects lose their luster, and what started out as a few privacy advocates sending “magic internet money” to one another has mushroomed into a whole new asset class with a robust infrastructure established around it. Every new product, application or financial instrument that we add has value and attracts more participants. Options trading is a huge step for the crypto derivatives market — and it’s already proving its worth. How the crypto …
Despite a massive wave of liquidations on the cryptocurrency market, some companies that sold their crypto over the past few months are not bearish on Bitcoin (BTC) at all. Canada-based investment firm Cypherpunk Holdings was one of the companies that opted to sell crypto amid the crypto winter of 2022, liquidating 100% of its Bitcoin and Ether (ETH) by June. One of the first public companies in the world to ever invest in Bitcoin, Cypherpunk said at the time that it maintained its long-term “bullish outlook on crypto” despite selling all its digital coins. One may find Cypherpunk’s crypto liquidation …