CoinShares, a European digital asset investment firm, announced earlier this week the launch of a new physically-backed ETP, CoinShares Physical Ethereum (Ticker: ETHE). According to CoinShares, ETHE will be the second product released on the firm’s institutional-grade ETP platform and will launch with approximately $75 million in assets under management.
CoinShares further revealed that ETHE will initially be listed on the regulated SIX Swiss Exchange and has a base fee of 1.25%, establishing ETHE an attractive option for institutional investors looking for an accessible ethereum investment vehicle with a fee below the industry standard of 2%. CoinShares Head of Product, Townsend Lansing, further explained:
“Our second product launch this year brings the world’s second-largest digital asset to our new CoinShares Physical platform. Bringing innovative products like ETHE allows us to continue setting the industry standard for trust and transparency and provide institutions with easy access to industry leading crypto investment vehicles.”
CoinShares Chief Revenue Officer, Frank Spiteri, further commented:
“In the early days of 2021, we have seen a continuation of last year’s demand in digital assets from institutions. We have also seen an increase in investor interest in ethereum. We are encouraged by our client’s trust in our team to guide them in their journey through the digital asset ecosystem, and for many, ethereum is an important part of that journey.”
CoinShares then added that each unit of ETHE is backed with 0.03 ether at launch, providing investors with passive exposure to Ethereum’s native asset with the convenience of an ETP. The product will be readily available to investors as its AUM at launch surpasses the baseline requirements for institutional and corporate investment consideration.
Founded in 2014, CoinShares claims to be Europe’s largest digital asset investment house, managing billions of assets on behalf of a global client base. The company’s mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing the new asset class.