CoinShares, a leading digital assets management firm, has partnered with the FTX exchange to launch an FTX Token ETP with physical backing on Germany’s primary assets market, Xetra. FTX Europe, a subsidiary of the parent firm, spearheaded the launch on behalf of its parent company. With $3.8 billion in assets under management, Coinshares is a publicly-traded company with ambitious expansion goals. Its decision to list another ETP is proof of this. So far, in 2022, CoinShares’ physically-backed ETPs have a cumulative AUM of $675million. FTX and Coinshares have committed $40 million in startup money for the Xetra project.
The ETP will trade under the name CoinShares FTX Physical FTX Token (Ticker: CFTT). It is another instance where CoinShares is leveraging its Galata platform to link digital asset protocols and markets and CeFi. Also, it allows investors to gain exposure to FTX’s native token, FTT, through industry-leading institutional offerings.
“The execution of our product development strategy continues apace, and we are delighted to work with FTX again on the launch of another institutional-grade physically-backed ETP,” said Frank Spiteri, CoinShares’ Chief Revenue Officer.
Evidently, CoinShares is keen on expanding its ETP footprint. CFTT is its fifth ETP (Exchange Traded Product) this year and will attract a management fee of 1.5%. It comes about a month after the launch of the CoinShares FTX Physical Staked Solana ETP, which happened in March. The Solana ETP is Europe’s most cost-effective Solana ETP with a current AUM of US$107 million.
About CoinShares
CoinShares, Europe’s largest digital asset investment firm, trades publicly on the Nasdaq First North Growth Market under the symbol CS and the OTCQX under the ticker CNSRF. This $3.8 billion asset portfolio company is on a mission to make the digital asset ecosystem more widely available by developing new financial products and services.
About FTX Europe
Cryptocurrency trading platform FTX Europe operates throughout Europe and the Middle East. Tokenized equities, futures, options, and volatility products are a few of the company’s current offerings.