ETC Group Lists Ether ETP on Deutsche Borse's Xetra...

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ETC Group Lists Ether ETP on Deutsche Borse's Xetra, Company's Bitcoin ETP Now Has $1 Billion AUM


Financial services company Etc Group on Tuesday launched its centrally-cleared ethereum exchange-traded product (ETP) on the Deutsche Borse’s Xetra marketplace.

Etc Group Launches Ethereum Exchange-Traded Product
The listing follows the success of the firm’s bitcoin ETP, which was launched on the same exchange in June 2020. That bitcoin exchange-traded product now has $1 billion assets under management (AUM), it said.

In a press release, London-based Etc Group revealed that the ether exchange-traded product (primary ticker: ZETH), tracks the price of ethereum (ETH) and is 100% physically backed by the cryptocurrency.

ETPs allow investors to gain exposure to an asset, in this case ether, but without having to buy it directly themselves.

Approved by Bafin, the German financial regulator, each unit of ZETH is backed by ethereum stored at custody services provider Bitgo Trust Company, “giving the investor a claim on a predefined amount of the underlying ETH,” said the company.

https://news.bitcoin.com/etc-group-ether-etp-deutsche-borses-xetra-bitcoin-etp-1-billion-aum/