Category Archives: CoinShares News
ETHEREUM GETS ITS FIRST EXCHANGE TRADED PRODUCT AS COINSHARES LAUNCHES TWO ETHER TRACKING, EXCHANGE TRADED NOTES ON NASDAQ STOCKHOLM
STOCKHOLM, SWEDEN, OCTOBER 11, 2017 — Investors seeking exposure to the price movement of ether, the native token of the Ethereum platform, just got a new, but familiar option: two Exchange Traded Notes (ETNs) which track the price of Ether – Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS).
XBT Provider by CoinShares, the issuer behind the world’s first bitcoin ETNs, is announcing that the first Ether ETNs are now available for trading on Nasdaq Stockholm.
“The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform – that’s truly remarkable. We are thrilled to be able to deliver on investor demand via a safe, familiar route in Nasdaq,” says Laurent Kssis MD of XBT Provider by CoinShares.
The two ETNs, COINETH and COINETHE are denominated in SEK and EUR respectively. In similar fashion to the group’s bitcoin ETNs, the ether ETNs are structured to track the price of ether, as determined by an index rate comprising the average of the 3 most liquid of a select group of exchanges, daily. The ETNs are traded during normal market hours on Nasdaq Stockholm.
“We are happy to be able to provide investors with this new investment opportunity. Given the high interest we have experienced for the previous listings from XBT Provider it is exciting to now expand the offering into this unique exchange traded certificate. While it is important to acknowledge that exposure to an asset in its early stage of development, such as a digital currency, comes with a risk, trading Ether on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well-known marketplace and accessibility through their ordinary brokers,” says Helena Wedin, head of ETP Services Europe at Nasdaq.
This is the second major crypto-asset ETN Nasdaq has listed for the CoinShares group, noteworthy as this listing makes Nasdaq Stockholm the only European exchange to offer investors exposure to two of the leading crypto-assets (bitcoin and ether) in a familiar structure.
“Today is a historical moment for Ethereum and ether as an asset; and for the future of crypto-assets. It was a little over two years ago that the bitcoin ETNs began trading – offering investors exposure to bitcoin via an established exchange for the first time. Today, we are able to bring ether to the market and mark another major first. It is important to remember how far and how fast the space has matured in the less than 8 years since this revolution began,” says Ryan Radloff, Co-Principal at CoinShares.
CoinShares, which has been called the ‘iShares® equivalent for Crypto-finance,’ now represents six professional grade crypto-investment vehicles, all of which are pioneering products in their category. With the addition of ether to the platform, CoinShares represents the most diverse investment product line-up available in professional crypto-finance; and notably, the only way for European investors to add ether to their portfolio via an established exchange.
“We’ve stated before that as a group, CoinShares is committed to delivering world-class research and professional-grade access to crypto-assets. Today marks a critical step in delivering on that mission. This launch is the result of a tremendous amount of hard-work from the CoinShares team, key partners and our counterparts at Nasdaq. We could not be more proud to bring this latest set of pioneering product to the market,” says Daniel Masters, Co-Principal at CoinShares.
Crypto Investors get First Multi-Strategy Group of Investment Products – Coinshares Launches with $300mm in Crypto-Assets
JERSEY, CHANNEL ISLANDS, OCTOBER 5, 2017 – The team behind the first regulated bitcoin hedge fund and Exchange Traded Bitcoin notes, is announcing CoinShares – new home to their growing portfolio of crypto investment vehicles.
With the announcement, GABI, the group’s bitcoin fund and XBT Provider, issuer of two bitcoin ETNs, become part of the CoinShares group of products; a family which collectively represents $300MM in crypto-assets.
“We are bringing these pioneering products under one brand so that investors can grow with a familiar partner. It’s the next logical step in professionalizing crypto-finance – as more assets mature in the space, more investors will demand exposure; and we will continue our focus on providing professional grade access. This is about giving those investors a standard and brand they can trust as we enter this next phase of crypto-investment,” says Daniel Masters, Co-Principal at CoinShares.
In the last 6 months some of the biggest retail brokerages in the United Kingdom, France, Germany, Italy and Denmark all began to offer clients access to bitcoin exposure through two of CoinShares’ exchange traded bitcoin notes issued by XBT Provider AB. In June, CoinShares closed the world’s first fund denominated in ether. And in September, GABI, the regulated bitcoin fund celebrated its three year anniversary. Crypto-finance is unquestionably experiencing a rapid evolution.
“This launch marks an inflection point – maturity is really the word that comes to mind here. In the last 3 years, we have seen bitcoin go from a confusing topic in board rooms to a hotly debated investment strategy; consequently, our offering of products has grown to suit this changing environment,” says Jean Marie Mognetti, Co-Principal at CoinShares.
CoinShares’ family of products includes both managed strategies and exchange traded products, each designed for a specific class of investor, making it the first brand to offer a multi-strategy approach to crypto investment. In addition, the team behind the products is composed of experienced finance professionals from JP Morgan, Lehman Brothers & State Street; and has a near two-decade record in (alternative) investment management.
“We have seen governments and traditional financial institutions fight, fail, embrace and ban bitcoin. We have seen a futures market form, leverage layers deepen and merchant adoption increase. In the last 18 months, at least 15 cryptocurrency ‘funds’ hit the market and at least 5 crypto-based investment products are currently pending review with regulators in the U.S. and elsewhere. Now, CoinShares represents the first branded group of investment products in crypto-finance and we could not be more excited to continue to deliver smart access to the crypto-revolution,” says Ryan Radloff, Co-Principal at CoinShares.
MORE ABOUT COINSHARES
CoinShares serves a global investor base seeking to invest in the emerging digital asset market(s) with a family of products which offer exposure to bitcoin and other emerging digital currencies/assets. CoinShares represents GABI – the first regulated bitcoin fund in the world; Bitcoin Tracker One (and Bitcoin Tracker Euro) the first exchange traded bitcoin products, globally; and CoinShares Fund 1 – the first fund denominated in cryptocurrency (ETH). CoinShares is backed by a team with deep experience in Exchange Traded Products, Hedge Funds, Commodities, FX, Market Making and both active and passive investment in frontier markets. For more information on CoinShares, please see the factsheet at coinshares.co.uk or email firstname.lastname@example.org.