New Listing

21Shares becomes second issuer to list bitcoin ETP on Deutsche Boerse

Tom Eckett

a man in a suit

Cryptocurrency ETP issuer 21Shares has listed its bitcoin exchange-traded product (ETP) on the Deutsche Boerse.

The 21Shares Bitcoin ETP (ABTC) was first listed on the Swiss SIX Exchange in February 2019 with a total expense ratio (TER) of 1.49%.

ABTC will be centrally cleared via Eurex Clearing which is meant to reduce the risk of settlement failures.

This is not the issuer’s first entrance into the German market. Last November, 21Shares listed seven ETPs on the Boerse Stuttgart.

Laurent Kssis (pictured), managing director of 21Shares, commented: “The listing on Xetra not only strengthens our current position in Germany, but also opens up institutional-grade crypto products to the wider European and international markets.

“We look forward to bringing more novel asset classes to more demanding investors.”

Michael Lie, head of digital assets at Flow Traders, added: “Flow Traders has been working with 21Shares since November 2018 and views the increasing amount of crypto ETPs being listed in Europe as an extremely positive development for the market.

“As such, it was a natural decision for us to participate as the designated sponsor on one of Europe’s largest exchanges.”

The firm’s latest listing comes weeks after ETC Group became the first issuer to launch a crypto ETP on Xetra via white label platform HANetf.

Earlier this week, 21Shares launched the world’s first three sterling cryptocurrency ETPs which listed on the SIX Swiss Exchange on 30 June.

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