Four investment firms, WisdomTree, VanEck, 21Shares, and the ETC Group have all received approval to list crypto exchange-traded products (ETPs) on the Euronext stock exchanges in Paris and Amsterdam, all of which began trading today.
While many of the ETPs are already trading on the Deutsche Borse Xetra market in Germany, the investment firms expanded their range of products to France and Amsterdam due to investor demand.
WisdomTree announced Monday it had listed the WisdomTree Bitcoin and WisdomTree Ethereum products on the Euronext Paris and Amsterdam stock exchanges with a total expense ratio (TER) of 0.95%.
New York-based investment management firm VanEck is listing the VanEck Vectors Bitcoin exchange-traded note (ETN) and VanEck Vectors Ethereum ETN on both exchanges with a TER of 1%.
ETC Group has listed two exchange-traded commodities (ETCs), the BTCetc – ETC Group Physical Bitcoin with a TER of 2% and the ETHetc – ETC Group Physical Ethereum with a TER of 1.49% on the Euronext Paris and Amsterdam. Both ETCs are issued in Germany by ETC Group and marketed and distributed by HANetf, the firm said.
Switzerland-based investment product provider 21Shares, formerly known as Amun, has listed three ETPs on the Euronext Paris stock exchange. The three ETPs will give investors exposure to bitcoin and ether with a TER of 1.49%. The third product is a “short bitcoin” ETP. Unlike WisdomTree, VanEck, and the ETC Group, 21Shares has not listed products on Euronext Amsterdam.
“Listing in Paris is an important step for 21Shares. Since there is no overlap with Amsterdam, we did not feel that listing on both made a material impact since almost all Dutch members can execute on Paris. However we are contemplating cross-listing in USD to facilitate institutional demand,” said Laurent Kssis, managing director of 21Shares’ ETP business.
“This milestone represents the growing acceptance of cryptocurrencies, the evolving European regulatory landscape, and the latest signal that digital assets are here to stay,” said Jason Guthrie, head of digital assets, Europe, WisdomTree.
European regulators are showing an increased willingness to list cryptocurrency ETPs as the asset class grows in popularity.