ETC Group has more than doubled its roster of cryptocurrency exchange-traded products (ETPs) with five digital asset exposures.
Physically-backed, the five ETPs are set to list on the Deutsche Boerse later this month with total expense ratios (TER) of 1.95%. The ETPs are:
DOTetc ETC Group Physical Polkadot (PLKA)
SOLetc ETC Group Physical Solana (ESOL)
XLMetc ETC Group Physical Stellar (STLR)
XTZetc ETC Group Physical Tezos (EXTZ)
ADAetc ETC Group Physical Cardano (RDAN)
PLKA tracks polkadot’s dot governance token, with polkadot itself having a sharded heterogenous multi-chain, which allows external networks and customised layer one 'parachains’ to communicate and create a connected internet of blockchains.
ESOL tracks solana’s native currency, which goes by the same name. The solana protocol provides decentralised finance solutions (DeFi) using its third-generation proof-of-stake blockchain that creates a permissionless system for determining transaction time called proof-of-history. This has a block time of 400 milliseconds versus ten minutes per block for bitcoin.
STLR tracks Stellar’s Lumen token, or XLM. Stellar is an open-source, decentralised protocol for digital currency to fiat transfers, with XLM powering the protocol’s payments network.
EXTZ tracks to price of tezos' digital token, tez. Tezos is a smart contract blockchain network that focuses on security and scale for large transactions.
Finally, RDAN tracks the price of cardano’s native platform token, ADA. Having gone from a niche asset to one of the largest cryptocurrencies in terms of market cap, cardano ADA’s blockchain is based on the ouroboros proof-of-stake consensus protocol, which is currently the largest of its type in the world.
Cardano has a settlement layer and a computation layer and is designed to facilitate peer-to-peer transactions without high energy costs.
Bradley Duke, co-CEO of ETC Group, commented: “Investors in digital assets are becoming more sophisticated and demanding with an appetite for exposure beyond just bitcoin and ether.”
Hector McNeil, co-CEO and co-founder of HANetf, who market and distribute the products, added: “Interest in ETPs has been booming as they provide investors with a safe and liquid way to gain exposure to digital assets.”
Last month, the two firms partnered on a thematic ETF, the ETC Group Digital Assets & Blockchain Equity UCITS ETF (KOIN), which was ETC Group’s first equity-based product.