CoinShares: XBT Provider ETPs Experiences $202 Million in Daily Trading Volumes Turnover & $2.9 Billion in AUM

CoinShares, a European digital asset investment firm, announced on Tuesday its XBT Provider line of exchange-traded products reached record trading volumes on Monday, January 4, 2021. CoinShares reported that with more than €162M ($202M) in XBT certificates changing hands traded on the market’s first day of trading in 2021, the company had the highest volume traded in any European listed crypto ETP.

“Bitcoin markets have seen a surge in activity demonstrated by Bitcoin crossing $30,000 on January 2, 2021 and its continued rally, hitting highs of $34,500. Over the past seven years CoinShares has set the standard for trust and transparency provided to investors, putting the Company in a unique position to bridge the gap between institutional investors and digital assets.”

Frank Spiteri, CoinShares’ Chief Revenue Officer, spoke about the milestone by stating:

“We are seeing an unprecedented volume of interest in Bitcoin from institutional investors. As wealth managers, private banks and European institutions look to add Bitcoin to their portfolios, our ETPs are the logical choice. With over seven years of experience in the marketplace, CoinShares is one of the world’s leading digital asset firms with unparalleled experience and expertise.”

Since listing in 2015, XBT Provider has achieved a number of milestones:

  • December 2017: XBT Provider crossed $1 billion in AUM for the first time.
  • January 2018: XBT Provider reached $182 million in daily turnover, with average daily volume of $85.5 million.
  • March 2019: CoinShares’ XBT Provider was named Europe’s most Innovative ETP Provider
  • November 2020: XBT Provider surpassed $2 billion in AUM
  • January 4, 2021: XBT Provider reached $202 million in daily turnover and $2.9 billion in AUM

CEO at CoinShares, Jean-Marie Mognetti, then concluded:

“The narrative shift around Bitcoin over the last six months has been profound. Investors used to consider it a risk to allocate to bitcoin. Now it’s a risk not to allocate to Bitcoin. As more investors look to Bitcoin as a viable investment option, our XBT Provider products continue to offer exposure to Bitcoin via traditional brokerage accounts across Europe, making it easy for investors of all types to gain exposure to Bitcoin without the premium associated with other products in the market or the risk of trading and securing your own assets.”

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