- Scandinavian investors can now access crypto ETPs via Nordnet bank
- The crypto ETP issuer believes the move will pave the way for more institutional adoption
- 70% of 21Shares’ AuM came from institutions
Leading crypto ETP issuer, 21Shares is expanding its Bitcoin products to investors in Scandinavia. This latest move from the company further pushes for institutional Bitcoin adoption in the crypto-friendly jurisdiction, Sweden, and the entire Scandinavian countries. The crypto ETP issuer now boasts of $90 million in assets under management (AuM).
Scandinavia is a group of countries in northern Europe that includes Denmark, Norway, and Sweden. 21Shares announced that its Bitcoin products – 21Shares Bitcoin and Short Bitcoin ETP – is now open for the Scandinavian investors. The Bitcoin products will be accessible through Nordnet, a leading Nordic digital bank for investments and savings.
With both products, the investors are provided with ETPs that will yield profits when the price of bitcoin drops or increases, according to the crypto ETP issuer.
“With both long and short price exposure to Bitcoin via 21Shares’ products, you can finally express a prudent approach to bitcoin just like you would in conventional financial markets. Innovative crypto index products are an inevitable next step to further institutionalize the asset class.”Jacob Lindberg, CEO of the regulated crypto index provider, Vinter Capital.
Crypto ETP issuer records $90 AuM
21Shares now has more than ten crypto ETPs listed across different exchanges around the world. Currently, the crypto ETP issuer boasts of $90 in assets under management. Given that its primary focus is directed towards the institutional market, about 70 percent of the AuM was garnered from institutional investors.
Recently, 21Share announced it would be launching a CCP-certified Short Bitcoin ETP on Xetra, one of the popular German trading venues operated by Deutsche Börse. The CCP clearing status reinforces the concerns of many investors regarding security and clearing matters. It offers investors a sense of security against counterparty risk.