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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.
Updated Sep 14, 2021, 12:16 p.m. Published Feb 24, 2021, 11:27 a.m.
Asset manager CoinShares has launched a new physically backed Ethereum exchange-traded product (ETP).
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- 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
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