Asset manager CoinShares has launched a new physically backed Ethereum exchange-traded product (ETP).
- According to a Wednesday announcement, the CoinShares Physical Ethereum ETP is listing on the Swiss SIX exchange under the ticker “ETHE” and already has around $75 million in assets under management (AUM).
- Each ETHE unit is backed with 0.03 ETH at launch, while the product has a base fee of 1.25%.
- “Bringing innovative products like ETHE allows us to continue setting the industry standard for trust and transparency and provide institutions with easy access to industry-leading crypto investment vehicles," said Townsend Lansing, head of product at CoinShares.
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.