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ETC Group founder said that there’s a high demand from investors for crypto ETPs for emerging altcoins which have good trading volumes.
Crypto investment firms across the world are including new digital assets in their offering as the market gains maturity. British crypto investment giant ETC Group announced the launch of three new cryptocurrency exchange-traded products (ETPs). These products track the performance of three new digital assets such as Avalanche (AVAX), Polygon (MATIC), and Cosmos (ATOM).
These new investment vehicles are available on Zurich-based SIX Swiss Exchange and Frankfurt-based Deutsche Börse. The ETC Group Physical Avalanche ETP (AVAL), the ETC Group Physical Cosmos ETP (ATME) and the ETC Group Physical Polygon ETP (MTCE) have total expense ratios (TERs) of 1.95%. Each of these ETP products track the price of the native crypto asset.
With this, the total crypto ETP offerings by ETC Group are currently eight. Bradley Duke, founder of ETC Group said that investors are showing greater interest in seeking exposure to such altcoins. These investors are looking at some of the new emerging altcoins in the market. Speaking to ETF Stream, Duke further added:
“Investors are increasingly interested in adding some of the newer, innovative cryptocurrencies to their portfolios – especially those amassing large market cap. The addition of these ETPs offers investors high quality, physically backed digital assets, underpinned by our partnerships with liquidity providers to deliver liquidity and tight trading spreads.”
ETC Offers Institutional-grade Crypto ETPs
Later, in December 2021, the ETC Group also launched crypto ETPs for altcoins such as Solana, Polkadot, Cardano, and Tezos. Besides, the ETC Group has also been instrumental in launching the world’s first metaverse-focused exchange-traded-fund (ETF).
Dubbed the ETC Group Global Metaverse UCITS ETF (METR), the fund has been listed on the London Stock Exchange. There’s been a solid growth and demand for Metaverse ETFs recently. Other big players like Fidelity and ProShares are also jumping into the Metaverse-ETF game.
The ETC Group is gaining significant market share in offering crypto institutional products to European investors. It offers its products across countries like Frankfurt, Vienna, Paris, London, Amsterdam, Zurich and Frankfurt.
Europe is seeing more financial service providers getting into the crypto game.