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21Shares Partnered with Comdirect to Offer Cryptocurrency ETPs for Saving Accounts

By partnering with the German online retail platform comdirect, 21Shares AG will enable traders to come to a decision out BTC and other digital sources for their financial savings accounts.

Crypto as a Saving Chance

21Shares AG, the Swiss-based completely investment product issuer, has partnered with the tidy German online brokerage – comdirect – to bring its cryptocurrency change-traded products, or ETPs, to the latter’s financial savings idea program (Spar idea).

As a end result, comdirect’s virtually three million customers can maintain the likelihood to attain cryptocurrency exposure in their financial savings accounts.

Hany Rashwan – CEO of 21Shares – outlined his firm’s outdated endeavors on the German market and predicted that the partnership with comdirect will be highly precious for the purchasers:

“We were the fundamental crypto issuer to listing a fully collateralized, 100% physically-backed Bitcoin ETP on most German exchanges attend in 2019. This followed us listing the enviornment’s first physically-backed crypto ETP on the SIX Swiss Change in 2018.

We’re very inflamed to present German purchasers who resolve on so that you just can add Bitcoin and other crypto sources to their financial savings idea a compelling possibility to discontinue so thanks to comdirect, an possibility that changed into once no longer available for any crypto products until now.”

In his turn, Marco Infuso – Managing Director Commerce Trend of the DACH situation (the countries of Germany, Austria, and Switzerland) – described this partnership as a “milestone in democratization crypto investments.” In his idea, a mammoth series of traders maintain been fascinated with shopping BTC, however until now, they did no longer maintain the moral investment instruments to retailer the asset in a financial savings idea.

21Shares and its Achievements

On the beginning of June, the Swiss organization 21Shares teamed up with GHOC to open a Bitcoin ETP on Aquis Change based completely within the UK and France. The innovation is anticipated to debut this summer season and will be available to official traders easiest.

Curiously, the BTC ETP will be engineered equally to an ETF, which manner that it could perhaps probably per chance well be centrally cleared (CCP). Which means, institutional traders in France and the UK will receive bitcoin exposure “by strategy of a regulated framework and construction which they’re already conscious of.”

True a pair of weeks ago, 21Shares presented that institutional traders would be in a space to make investments in Solana (SOL) through an ETP on the Swiss Stock Change (SIX). The product, dubbed ASOL ETP, would present “additional yield through staking rewards by validating transactions on the Solana blockchain.”

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