Digital asset management company CoinShares announced the launch of an Ethereum-based Exchange Traded Product (ETP) with physical backing in cryptocurrency.
CoinShares Physical Ethereum under the ticker ETHE will be the company’s second cryptocurrency ETP.
Each ETHE share is backed by 0.03 ETH when issued. The volume of assets under ETP management will be approximately $ 75 million, which will allow institutional and corporate investors to invest in the second cryptocurrency.
The company has previously launched a similar Bitcoin-based product . It is listed on Switzerland’s largest stock exchange, the SIX Swiss Exchange.
ETHE will also initially be listed on this site, where it will have a base fee of 1.25%
“In the early days of 2021, we saw a continuation of last year’s demand for digital assets from institutions. We are also seeing an increase in investor interest in Ethereum, ”said Frank Spiteri, director of profit at CoinShares.
Recall that the company’s experts suggested traditional investors to allocate 4% of the portfolio for Bitcoin , comparing it with a successful startup.