New Bodily-backed ETP Displays Rising Investor Urge for food for Digital Asset Funding Merchandise
ST. HELIER, Jersey, April 6, 2021 /PRNewswire/ — CoinShares (Nasdaq First North Development Market: CS), Europe’s largest digital asset funding home, in the present day introduced the launch of a brand new change traded product, CoinShares Bodily Litecoin (Ticker: LITE), bringing its complete variety of funding merchandise to seven. CoinShares has over $4B of property underneath administration on its platform, of which roughly two thirds is in Bitcoin publicity, and a rising share in Ethereum.
LITE would be the third product launched thus far this 12 months on CoinShares’ institutional-grade ETP platform, CoinShares Physical. Every unit of LITE is backed with 0.20 litecoins at launch, offering buyers with passive publicity to the Litecoin community’s native asset.
- Product Title: CoinShares Bodily Litecoin
- ISIN: GB00BLD4ZP54
- Ticker: LITE
- Base Foreign money: USD
LITE will initially be listed on the regulated SIX Swiss Change and has a base price of 1.50% p.a.
Chief Income Officer Frank Spiteri commented: “As demand for digital property amongst the normal funding group steadily will increase, we’re beginning to see the inexperienced shoots of demand for funding exposures exterior of the highest two dominant networks. CoinShares is the chief in creating novel methods for buyers to entry the digital asset ecosystem, and LITE is the following step on a path to bringing a extra complete and diversified providing of ETPs to market.”
CoinShares has seen vital investor demand for digital asset funding merchandise past simply bitcoin. CoinShares’ Weekly Fund Flows Report tracks the modifications in investor sentiment by way of inflows and outflows in common digital asset funding merchandise and has noticed an uptick in inflows right into a wider vary of digital property as new funding merchandise come to market. CoinShares intends so as to add a variety of new merchandise to its platform within the coming 12 months to satisfy this rising demand from buyers.
Head of Product Townsend Lansing commented: “LITE comes sizzling on the heels of our Bitcoin and Ethereum product launches in 2021 and can profit from the identical sturdy and clear physically-backed product construction. We’re excited so as to add publicity to such a well-accepted and broadly traded crypto-asset to our new product line.”
CoinShares’ funding merchandise present publicity to Bitcoin (BTC), Ethereum (ETH) and now, Litecoin (LTC) and can be found to eligible institutional and particular person buyers all through Europe. The CoinShares Group publicly listed on March 11, 2021, and not too long ago reported its This fall and FY2020 outcomes, which could be viewed here.
Concerning the CoinShares Group
CoinShares is Europe’s largest digital asset funding home, managing billions of property on behalf of a world consumer base. Our mission is to increase entry to the digital asset ecosystem by pioneering new monetary services that present buyers with belief and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under ticker CS.
For extra data on CoinShares, go to: https://coinshares.com
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SOURCE CoinShares Group