European digital asset manager CoinShares is expanding the reach of its physically-backed exchange-traded product (ETP) portfolio with a new listing in Germany.
The digital asset manager started the year by launching a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on Switzerland’s SIX Swiss Exchange, each ETP is physically backed by 0.001 Bitcoin.
Since then, the CoinShares Physical platform saw the launch of Ether and Litecoin ETPs. CoinShares Physical Ethereum (ETHE) was backed with 0.03 ETH at launch, while CoinShares Physical Litecoin (LITE) was backed with 0.2 LTC.
CoinShares’ chief revenue officer Frank Spiteri said that the CoinShares Physical platform now has over $380 million in assets under management and operates in eleven countries.
The listing of CoinShares Physical Bitcoin, Ethereum, and Litecoin ETPs on Boerse Xetra follows approval from regulators to distribute the ETPs across