Bitcoin ETP Listed on Europe’s Third-Largest Exchange

Bitcoin ETP Listed on Europe’s Third-Largest Exchange

Deutsche Boerse has listed an exchange-traded product (ETP) that tracks the value of bitcoin.

21Shares, a Swiss-based product provider formerly known as Amun, said its bitcoin ETP had been officially accepted Wednesday to list on Xetra, Deutsche Boerse’s electronic trading venue.

“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,” said Laurent Kssis, 21Shares’ managing director, in a statement.

Deutsche Boerse Group has two trading venues: Xetra, and the Frankfurt Stock Exchange. Together, they count as the third-largest trading platform in Europe, just behind the London Stock Exchange and Euronext.

Deutsche Boerse’s data shows more than €150 billion worth of equities and derivative products changed hands at Xetra in May. In December last year, the exchange handled approximately €300 billion in volume.

Bitcoin ETPs provide exposure to bitcoin in a regulated asset-class. In contrast to the U.S., where regulators have been loathe to sign off on bitcoin ETF applications, there are already three to four entities offering crypto-backed products across Europe.

21Shares launched its first Bitcoin

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