21Shares Taps Copper for Custody of Crypto ETPs

21Shares also intends to use Copper’s staking capabilities to manage its holdings.

AccessTimeIconOct 7, 2021 at 9:34 a.m. UTC
Updated May 9, 2023 at 3:26 a.m. UTC

Crypto exchange-traded product (ETP) issuer 21Shares has tapped infrastructure provider Copper for its custody requirements.

  • The core of Copper’s infrastructure is its ClearLoop tool, intended to allow institutional investors to hold on to assets until just before a trade is executed.
  • This enables Copper’s clients to retain their trading capital while trades are initiated, with ClearLoop transferring the assets to the buyer on completion, according to the company.
  • 21Shares also intends to use Copper’s staking capabilities to manage its holdings, the company announced Thursday. 21Shares offers two ETPs with investor staking rewards that track the performance of Tezos and Solana.
  • The Zug, Switzerland-based firm has recently eclipsed $2 billion in assets under management across its products including 17 crypto ETPs listed on eight exchanges around Europe such as the Swiss Stock Exchange and Deutsche Boerse.


DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.