The Sweden-based XBT provider Coinshares saw roughly $202 million in XBT certificates swap hands on the market’s first day of trading in 2021. Meanwhile, on the same day, the bitcoin exchange-traded product BTCE saw $100 million in trade volume.
Coinshares Group is a European firm dedicated to crypto-finance and exchange-traded products. The bitcoin exchange-traded note (ETN) provider is approved by the Swedish FSA and the firm’s digital currency ETNs are traded on Nasdaq Nordic in Stockholm.
On the market’s first day of trading in 2021, Coinshares says the firm’s bitcoin certificates saw $202 million in volume shattering previous records. “Coinshares had the highest volume traded in any European listed crypto ETP,” the company said.
Frank Spiteri, Coinshares’ Chief Revenue Officer explained that the firm has seen colossal demand and much of it stems from the ranks of institutional investors.
“We are seeing an unprecedented volume of interest in bitcoin from institutional investors,” Spiteri detailed. “As wealth managers, private banks,