As per the latest reports Xetra has announced that it is currently preparing to launch its first exchange-traded products (ETP) based on Ether (ETH). Xetra is an electronic trading platform that is owned by Deutsche Borse.
It has been revealed that Xetra is planning to launch not just one but two exchange-traded products based on Ether (ETH). The firm has also revealed the names of the ETPs it is currently planning to launch. The name of the first ETP by Xetra is 21Shares’ Ethereum ETP (AETH) while the name of the other one is Ether (ETH) exchange-traded commodity (ETC) for ETC Group.
The company has announced that both the exchange-traded products are set to be launched on Tuesday, March 9, 2021. Following the announcement, the spokesperson from Deutsche Borse confirmed that these two ETPs would be the first-ever Ether (ETH) ETPs launched by Xetra.
Xetra spokesperson confirmed that the 21Shares’ Bitcoin Cash (BCH) ETP will also be launched alongside AETH. The information has been shared by Laurent Kssis who is the global head of exchange-traded products at 21Shares.
Kssis confirmed that starting Tuesday, March 9, 2021, Xetra will have 4 ETPs cleared through 21Shares. Kssis remarked how Xetra has trusted in the capabilities and competence of 21Shares and has asked them to collaborate in the projects.
He stated that Xetra asked them directly to be involved in more ETPs that will be targeted towards more institutional investors. Kssis added that their firm is extremely excited about their latest collaboration with Xetra and they are hoping that their partnership will be going a long way
The ETC Group has also provided further details around the approval of ZETH. It was the Federal Financial Supervisory Authority that is known to have approved ZETH. The Federal Financial Supervisory Authority is a regulator from Germany that is more commonly known as BaFin.
The best benefit of the new investment products for cryptocurrencies is that they are physically backed exchange-traded commodities that are cleared by counterparties from the central world.
The ETCs will be based on the ETH cryptocurrency that has custody that is institutional grade and is fully regulated. The company that will be supporting both the new ETPs is BitGo Trust Company.
The Xetra platform has confirmed that the three new products from the crypto-sector would be introduced to the BTC ETPs that are already operational on Xetra. The names of the ETPs include 21Shares’ Bitcoin ETP, VanEck’s Vectors Bitcoin ETN, and ETC Group’s BTCetc. Apart from that, there is another short exchange-traded product (ETP) that is also for Bitcoin (BTC).
Xetra is currently considered to be one of the largest trading platforms in the entire Europa.