Crypto ETPs of Four Firms Begin Trading on Euronext Paris and Amsterdam
The four investment firms listed a total of nine bitcoin and ethereum ETPs on the Euronext Paris stock exchange today.
Four investment firms – WisdomTree, VanEck, 21Shares, and the ETC Group – have all received approval to list crypto exchange-traded products (ETPs) on the Euronext stock exchanges in Paris and Amsterdam, all of which began trading today.
While many of the ETPs are already trading on the Deutsche Börse Xetra market in Germany, the investment firms expanded their range of products to France and Amsterdam due to investor demand.
WisdomTree announced Monday it had listed the WisdomTree Bitcoin and WisdomTree Ethereum products on the Euronext Paris and Amsterdam stock exchanges with a total expense ratio (TER) of 0.95%.
New York-based investment management firm VanEck is listing the VanEck Vectors Bitcoin exchange-traded note (ETN) and VanEck Vectors Ethereum ETN on both exchanges with a TER of 1%.
ETC Group has listed two exchange-traded commodities (ETCs): the BTCetc – ETC Group Physical Bitcoin with a TER of 2%, and the ETHetc – ETC Group Physical Ethereum with a TER of 1.49% on the Euronext Paris and Amsterdam. Both ETCs are issued in Germany by ETC Group and marketed and distributed by HANetf, the firm said.
Switzerland-based investment product provider 21Shares, formerly known as Amun, has listed three ETPs on the Euronext Paris stock exchange. The three ETPs will give investors exposure to bitcoin and ether with a TER of 1.49%. The third product is a “short bitcoin” ETP. Unlike WisdomTree, VanEck, and the ETC Group, 21Shares has not listed products on Euronext Amsterdam.
“The listing of our products in euros on Euronext Paris was a major step for us because it allows members of the Euronext markets, whether they are in Paris or Amsterdam, to have access to them. There was no particular interest in having a dual listing for the same products. On the other hand, we will launch our trackers in dollars on the Euronext Amsterdam to meet the demand of European institutional investors who don't have access to the Swiss SIX exchange,” said Laurent Kssis, managing director of 21Shares' ETP business.
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“This milestone represents the growing acceptance of cryptocurrencies, the evolving European regulatory landscape, and the latest signal that digital assets are here to stay,” said Jason Guthrie, head of digital assets, Europe, WisdomTree.
European regulators are showing an increased willingness to list cryptocurrency ETPs as the asset class grows in popularity.