News

CoinShares Launches XRP Exchange Traded Product (ETP)

Europe's largest digital asset investment firm expands product range as institutional demand continues to grow

13th April 2021

ST. HELIER, Jersey, April 13, 2021 -- CoinShares (Nasdaq First North Growth Market: CS), Europe's largest digital asset investment firm, today announced the launch of a new exchange traded product, CoinShares Physical XRP (Ticker: XRPL). XRPL is CoinShares' eighth investment product and its fourth new product launch in 2021.

XRPL has been built using CoinShares' institutional-grade ETP platform, CoinShares Physical. Each unit of XRPL is backed with 40.0 XRP at launch, providing investors with passive exposure to XRP – the native token unit on the Ripple network.

  • Product Name: CoinShares Physical XRP
  • ISIN: GB00BLD4ZN31
  • Ticker: XRPL
  • Base Currency: USD

XRPL will initially be listed on the regulated SIX Swiss Exchange and has a base fee of 1.50% p.a.

Head of Product Townsend Lansing commented: "We excited are bring XRP to our physically-backed ETP platform. At CoinShares, we build innovative products in response to demand from our clients. Once we determine that a professional-calibre product is feasible, and it appears that demand exists to make a liquid market for trading the product, we bring the product to fruition leveraging the extensive trading, custody, and compliance capabilities of the CoinShares Group."

With digital assets recently breaching a combined $2T market cap, CoinShares - Europe's largest digital asset investment firm - reached $5B in assets under management. As the overall digital asset class continues to grow, so does investor demand for a more diverse range of investment products. At CoinShares, we believe crypto is for everyone, and look forward to continuing to listen to our clients to expand our suite of publicly traded, widely available and accessible products.

Chief Revenue Officer Frank Spiteri commented: "The digital asset ecosystem is vast and still growing at breakneck speed. As we continue to diversify our product offering in 2021, we are focused on providing investment exposure to those assets and networks that resonate most with our European client base. XRPL is CoinShares' second product launch of Q2, and we're looking forward to building on this momentum in the months ahead."

CoinShares' investment products provide exposure to Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), and now XRP. They are available to eligible institutional and individual investors throughout Europe. The CoinShares Group publicly listed on March 11, 2021, and recently reported its Q4 and FY2020 results, which can be viewed here.


About the CoinShares Group

CoinShares is Europe's largest digital asset investment house, managing billions of assets on behalf of a global client base. Our mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under ticker CS.

For more information on CoinShares, visit: https://coinshares.com

Media Contact
Jay Morakis
+1 646 859 5951
[email protected]

Related Links

https://coinshares.com

SOURCE CoinShares Group

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