The ETC Group will launch its first Ethereum exchange-traded product on the Deutsche Borse marketplace as we can see in our latest ethereum news today.
The crypto investment firm ETC Group is launching an ETH exchange-traded product on the Deutsche Borse Xetra tomorrow with the ZETH Ticker. This marks the second crypto investment product after the bitcoin ETP as per a press release. The exchange-traded product is a security that can be traded and the value depends on the underlying security. In this case, an ETH ETP will be tracked to the price of Ethereum and will allow investors to gain more exposure to the volatile crypto’s price without having to buy it themselves.
The company launched its Bitcoin ETP back in 2020 and since then, the assets under management increased to $1 billion. The ETC Group had its Bitcoin ETP as the most traded product on the exchange-traded notes listed on Xetra in the second half of 2020. Xetra is a popular trading venue in Frankfurt, Germany, operated by the Frankfurt Stock Exchange and according to the platform more than 90% of the trading in German shares goes through this marketplace and 30% goes in ETFs.
Ethereum is the second-biggest crypto by market cap where BTC focuses on transactions and Ethereum is designed as a smart contract platform to enable tokens and decentralized apps to be built on it. The institutional investment in Ethereum is lower than with Bitcoin as the investments in Grayscale’s investments and trusts shows but it is rising. Grayscale’s Ethereum holdings for the institutional investors increased from 2.9 million ETH at the start of February, to 3.1 million ETH today.
As recently reported, The 100x Group company is the parent company of the popular crypto exchange BitMEX and they have appointed a new CEO. Alexander Hoptner, who worked as an executive at Börse Stuttgart will now serve as the company’s CEO, a few months after Arthur Hayes left the company. 100x Group is a holding organization for HDR global Trading Limited and the owner and operator of BitMEX. The company announced earlier today about their new CEO, Alexander Hoptner. Hoptner will report directly to the Chairman of 100x Group, David Wong, and will also join the board of directors.
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