New Listing

Global X unveils chainlink, uniswap and aave crypto ETPs

Takes the issuer’s crypto ETP range to five

Theo Andrew

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Global X has expanded its crypto range with the launch of chainlink, Uniswap and aave exchange-traded products (ETPs).

The Global X Aave ETP (AVMX), the Global X Chainlink ETP (LI0X) and the Global X Uniswap ETP (UNIX) are listed on Deutsche Boerse with total expense ratios (TERs) of 0.99%.

The new ETPs are the cheapest on the market, undercutting 21Shares which provides access to the three cryptocurrencies with a TER of 2.5%.

In October 2021, Valour launched the Valour Uniswap ETP with a TER of 1.9%.

All three ETPs are physically backed. LI0X provides access to a decentralised network of oracles that enable smart contracts to securely interact with real-world data and services that exist off chain.

UNIX will track uniswap, a leading decentralised digital asset exchange that facilitates trading without the need for intermediaries.

Meanwhile, AVMX will allow investors to invest in aave, a decentralised finance platform that allows users to lend and borrow digital assets, also without intermediaries.

The new ETPs take Global X’s crypto range to five having launched bitcoin and etheruem products in March last year.

The Global X Bitcoin ETP (BT0X) and the Global X Ethereum ETP (ET0X) have $2m and $1.8m assets under management (AUM), respectively.

Adam Sze, head of digital assets and crypto products at Global X, said the launch "underscored the firm's long-term confidence in the digital asset theme".

"Digital assets offer the opportunity to access the decentralised, transparent networks which have the potential to transform the future digital economy. The expansion of our physically backed digital asset offerings highlight Global X’s long-term conviction in this space," he said.

Global X has become the first issuer to launch a crypto ETP this year after 2022 proved to be a bleak year for the asset class.

Last December, ETC Group shut four crypto ETPs including the ETC Group Physical Uniswap ETP (USWA) on low demand.

However, there are signs the crypto winter could be thawing with the price of bitcoin up 46% since the turn of the year on signs that central banks could start easing interest rate hikes.

On 12 March, US regulators closed Signature Bank, one of the biggest lenders in the crypto industry due to the rising risks of systemic failure following the collapse of Silicon Valley Bank.

Just a week earlier, another crypto bank, Silvergate Bank, collapsed citing “recent industry and regulatory developments”.

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