CoinShares crypto-asset ETPs surpass $1bn AUM

Aug 25th, 2020 | By | Category: Alternatives / Multi-Asset

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CoinShares has announced that its suite of crypto-asset ETPs has passed the $1 billion assets under management milestone.

CoinShares crypto asset ETPs surpass $1bn AUM

CoinShares’ suite of crypto asset ETPs have surpassed $1bn AUM.

The suite, which is offered through CoinShares’ ETP platform, XBT Provider, comprises eight single-asset ETPs providing exposure to bitcoin, ethereum, litecoin, and ripple in either Swedish krona or euro trading lines.

The ETPs are listed on either Nasdaq Stockholm or the Nordic Growth Market and come with management fees of 2.50%.

The pair of bitcoin ETPs are the firm’s largest products, collectively housing over $770 million in AUM. These ETPs have benefitted from a rally in bitcoin in recent months which has seen the price of a token rise from $5,100 in mid-March to over $11,400, as of 25 August. Bitcoin in US dollars is up 63.8% year-to-date.

The vast majority of the firm’s remaining AUM can be found within its ethereum ETPs, which collectively hold around $240m AUM. The price of ethereum has gained a whopping 218% year to date in US dollar terms.

According to CoinShares, both the bitcoin and ethereum ETPs have also recorded significant net inflows this year with increased interest from financial services firms, institutional investors, and investment banks.

CoinShares notes that trading in its ETPs is on track to triple this year compared to approximately the $3bn volume recorded in 2019.

Frank Spiteri, Chief Revenue Officer, CoinShares, commented, “Bitcoin and other digital assets continue to fascinate and intrigue investors. As the investment environment changes and the need for alternative stores of value rises, an ever-increasing number of institutional investors are contacting us to discuss how digital assets can fit within a portfolio. Traditional banks, brokerages, and asset managers are responding to the needs of their clients, and their clients want bitcoin.”

Jean-Marie Mognetti, CEO of CoinShares, added, “We see this $1 billion dollar level as a validation of our belief that bitcoin and other digital currencies have a role to play in investment portfolios. If we compare with gold, which has over $200bn of AUM globally, we believe bitcoin is better positioned to react aggressively to current easing in fiscal and monetary policy.”

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