Asset manager CoinShares has launched a new physically backed Ethereum exchange-traded product (ETP).
- According to a Wednesday announcement, the CoinShares Physical Ethereum ETP is listing on the Swiss SIX exchange under the ticker “ETHE” and already has around $75 million in assets under management (AUM).
- Each ETHE unit is backed with 0.03 ETH at launch, while the product has a base fee of 1.25%.
- “Bringing innovative products like ETHE allows us to continue setting the industry standard for trust and transparency and provide institutions with easy access to industry-leading crypto investment vehicles," said Townsend Lansing, head of product at CoinShares.
- This is the firm’s second such product after the bitcoin ETP "BITC" was listed on SIX in January.