CoinShares just added two new crypto ETPs to their list on Xetra, a major stock exchange in Germany. These ETPs are physically backed.
The Issuer said on March 27, that the management fees for both the CoinShares Physical Top 10 Crypto Market ETP (Ticker: CTEN) and CoinShares Physical Smart Contract Platform ETP (Ticker: CSSC) will be 0%/year. These products track two special indices created together with Compass Financial Technologies.
CoinShares’ Head of Asset Management, Frank Spiteri, commented:
We are excited to unveil our two innovative new Index ETPs to the market today, both of which have had their management fees reduced to 0.0% p.a.. With CTEN, investors can gain wider market exposure with reduced concentration risk compared to single coins, whilst CSSC offers investors passive exposure to the Web3 revolution in a single diversified, regulated, transparent product.
CoinShares created the CTEN and CSSC indices to provide investors with Index ETPs that accurately reflect trends in digital assets and provide the best balance of risk and cost. These indices use an equal weighting approach, which generally requires more assets than the market-cap weighted approach used by most European exchanges. This can lead to higher trading costs.
The 35% weight limit is designed to reduce the risk of investing heavily in one asset, like Bitcoin. The index is rebalanced quarterly and has a maximum of ten components to keep up with the cryptocurrency market without incurring high trading costs.
Founding Partner, CEO at Compass Financial Technologies, Guillaume Le Fur, added:
We are delighted to be extending our partnership with CoinShares with the development and launch of these two new crypto indices. These indices are a reflection of Compass’s continued commitment to innovation in the digital assets industry and we look forward to further collaboration with the CoinShares team in the future
Read more: Nasdaq Offering Crypto Storage by Summer (brokerstimes.com)
