New Physically Backed ETP Reflects Growing Investor Appetite for Digital Asset Investment Products
ST. HELIER, Jersey, April 7, 2021 / PRNewswire / - CoinShares (Nasdaq First North Market Growth: CS), the largest investment company in the digital assets of Europe , today announced the launch of a new product negotiated on the stock exchange, CoinShares Physical Litecoin (Ticker: LITE), bringing the total number of its investment products to seven. CoinShares manages more than $ 4 billion in assets on its platform, of which around two-thirds are exposed to Bitcoin and a growing portion to Ethereum.
LITE will be the third product launched since the start of the year on CoinShares' institutional-level ETP platform, CoinShares Physical . Each unit of LITE is backed by 0.20 Litecoin at launch, providing investors with passive exposure to the native asset of the Litecoin network.
Product name: CoinShares Physical Litecoin
ISIN: GB00BLD4ZP5
Listing: LITE
Base currency: USD
LITE will initially be listed on the regulated market of the SIX Swiss Exchange and its base fee is 1.50% per annum.
Frank spiteri , Managing Director of Funding, commented: “As the demand for digital assets within the traditional investment community grows steadily, we are starting to see the first signs of demand for outside investment exposures. of the two main dominant networks. CoinShares is the leader in creating innovative ways for investors to access the digital asset ecosystem, and LITE is the next step on the path to bringing a more comprehensive and diverse offering to market. AND P. "
CoinShares has seen strong investor demand for digital asset investment products other than bitcoin. CoinShares' weekly fund flow report tracks changes in investor confidence in popular digital asset investment products through inbound and outbound flows and has observed an increase in inbound flows in a wider range. array of digital assets as new investment products enter the market. CoinShares intends to add a number of new products to its platform over the coming year to meet this growing investor demand.
Product Manager Townsend Lansing said, “LITE arrives just after the launch of our Bitcoin and Ethereum products in 2021 and will benefit from the same strong and transparent product structure that is physically supported. We are excited to add exposure to such a well accepted product and widely distributed cryptoassets to our new product line.
CoinShares' investment products offer exposure to Bitcoin (BTC), Ethereum (ETH) and now Litecoin (LTC) and are available to eligible institutional and private investors across Europe . The CoinShares Group went public on March 11, 2021 and recently released its fourth quarter and full year 2020 results, which can be viewed here .
About the CoinShares group
CoinShares is Europe 's largest digital asset investment firm, managing billions of assets on behalf of global clients. Our mission is to expand access to the digital asset ecosystem by launching new financial products and services that provide investors with the confidence and transparency needed to access this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under the ticker symbol CS .
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