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21Shares Taps Copper for Custody of Crypto ETPs
21Shares also intends to use Copper’s staking capabilities to manage its holdings.
Updated May 9, 2023, 3:26 a.m. Published Oct 7, 2021, 9:34 a.m.
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Crypto exchange-traded product (ETP) issuer 21Shares has tapped infrastructure provider Copper for its custody requirements.
- The core of Copper’s infrastructure is its ClearLoop tool, intended to allow institutional investors to hold on to assets until just before a trade is executed.
- This enables Copper’s clients to retain their trading capital while trades are initiated, with ClearLoop transferring the assets to the buyer on completion, according to the company.
- 21Shares also intends to use Copper’s staking capabilities to manage its holdings, the company announced Thursday. 21Shares offers two ETPs with investor staking rewards that track the performance of Tezos and Solana.
- The Zug, Switzerland-based firm has recently eclipsed $2 billion in assets under management across its products including 17 crypto ETPs listed on eight exchanges around Europe such as the Swiss Stock Exchange and Deutsche Boerse.
Read more: FTX Integrates Copper Trading Tool ClearLoop
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Wall Street giant Apollo deepens crypto push with Morpho token deal
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- Apollo Global Management struck a cooperation agreement to support lending markets built on Morpho’s onchain protocol.
- The deal allows Apollo to acquire up to 90 million MORPHO tokens over 48 months.
- The move follows BlackRock's push into decentralized finance earlier this week, listing its tokenized fund and buying tokens of decentralized exchange Uniswap.
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