New Listing

CoinShares debuts ethereum ETP

ETHE is listed on the SIX Swiss Exchange with a TER of 1.25%

Jamie Gordon

a man in a suit and tie

CoinShares has expanded its cryptocurrency exchange-traded product (ETP) range with the launch of an ethereum strategy.

The CoinShares Physical Ethereum ETP (ETHE) is listed on the SIX Swiss Exchange with a total expense ratio (TER) of 1.25%.

Each unit of ETHE is physically backed by 0.03 ether at launch, with the aim of offering investors passive exposure to ethereum’s native asset.

Trading in US dollars, ETHE has been seeded with $75m assets under management (AUM) at launch meaning it surpasses the threshold for consideration by institutional investors.

Townsend Lansing, head of product at CoinShares, said the launch represents the next step in the company’s mission of providing exposure to crypto assets via ETPs.

Lansing said: “Bringing innovative products like ETHE allows us to continue setting the industry standard for trust and transparency and provide institutions with easy access to crypto investment vehicles."

The company’s chief revenue officer, Frank Spiteri (pictured), added institutional demand for digital assets has carried over from 2020 with increasing interest in ethereum.

“We are encouraged by our client's trust in our team to guide them in their journey through the digital asset ecosystem, and for many, ethereum is an important part of that journey." Spiteri concluded.

The launch comes a month after the firm unveiled a physically-backed bitcoin ETP, the CoinShares Physical Bitcoin ETP (BITC), on the SIX Swiss Exchange.

It also comes after two releases from the Swedish Financial Supervisory Authority which called for issuers to think twice about making crypto ETPs available to retail investors.  

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