Deutsche Börse adds crypto ETNs on Ethereum and Bitcoin Cash
Frankfurt based Deutsche Börse has announced that it is expanding its centrally cleared crypto offering on Xetra, with Ethereum and Bitcoin Cash. The new crypto ETNs offer easy access to the performance of cryptocurrencies, with physical backing.
Deutsche Börse added that central clearing offers reduced risks and settlement efficiencies.
From today, Exchange Traded Notes (ETNs) issued by 21Shares and ETC Group on the cryptocurrencies Ethereum and Bitcoin Cash are available to investors on Xetra for the first time.
The new products are physically backed and listed on the Regulated Market of the Frankfurt Stock Exchange.
“Cryptocurrencies are a rapidly growing market segment. With the expansion to Ethereum and Bitcoin Cash, we are now offering further investment opportunities to trade crypto products efficiently in a regulated on-exchange environment. This means investors no longer have to turn to unregulated crypto venues or set up their own crypto wallets,” says Stephan Kraus, Head of Deutsche Börse’s ETF segment.
“Central clearing of the products significantly reduces the settlement risks and thus enables many professional investors to invest in crypto products,” says Kraus. The clearing will be handled by Eurex Clearing, Deutsche Börse Group’s central counterparty.
Last June, Deutsche Börse launched the world’s first centrally cleared Bitcoin ETN on Xetra. The company said that the product has been heavily traded by both private and institutional investors, and was recently the highest-volume product in the ETF & ETP segment on Xetra for some days.