Ethereum ETP to List on Deutsche Borse
Listing Tuesday, the ETP will track the price of ether and trade under the ticker “ZETH.”
London-based ETC Group is to list an Ethereum exchange-traded product (ETP) on Deutsche Borse’s Xetra market, based in Frankfurt, Germany.
- The new "ETC Group Physical Ethereum ETC" product will track the price of ether and trade under the ticker “ZETH” when it goes live Tuesday. An ETC is an exchange-traded commodity, a kind of ETP.
- ZETH will be a central counterparty-cleared product structured as an asset-backed debt security distributed on the HANetf platform. The management fee will be 1.49%.
- “Institutional investors are demanding regulated crypto products that are secure, liquid, and central counterparty cleared and ETC Group is building products that adhere to the complex and exacting standards of the institutional investor,” said Bradley Duke, CEO of ETC Group.
- In June, ETC Group listed its "Bitcoin Exchange Traded Crypto" ETP, also on the Deutsche Borse’s Xetra.
- The bitcoin product has now amassed over $1 billion in assets under management, said the firm.
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