ETC Group Expands Crypto ETP Listings in Vienna

[ad_1]

ETC Group, a European issuer of exchange-traded crypto products, expands listing of its entire portfolio on the Vienna Stock Exchange as the United States awaits regulatory approval for a crypto ETF.

The ETC listings for Bitcoin, Ethereum, and Litecoin ETPs in Austria follow the listings in London, Paris, Amsterdam, Zurich, and Frankfurt. The issuer said its flagship Bitcoin ETP was the first crypto ETP approved by the German regulator and the first centrally cleared crypto ETP when it was listed on Deutsche Brse’s XETRA exchange in June of last year.

Do you want to take advantage of the #cryptotrading # market? @ETC_Crypto has listed its three structured products that follow the development of #Bitcoin, #Ethereum, and #Litecoin on the Vienna MTF. More details: https://t.co/kQdEQTmFHA pic.twitter.com/xEPVFKw1gx

– Wiener Brse AG (@wiener_boerse) August 18, 2021

The funds are distributed by HANetf and Lang & Schwarz will be the market maker on the Vienna Stock Exchange.

Bradley Duke, CEO of ETC Group, told Markets Media: We plan to issue more unique cryptocurrency ETPs and plan to launch a number of additional products before the end of this year.

The group’s crypto ETPs allow institutions and retail investors to increase their exposure by trading on regulated markets through their conventional broker or bank in the same way as conventional stocks.

ETC crypto funds have been listed across Europe, but the United States Securities and Exchange Commission has not approved a Bitcoin exchange-traded fund.

A Global Crypto ETP Comparison With Europe In The Foreground https://t.co/zStdKr7ozw

– ETC Group (@ETC_Crypto) August 9, 2021

Gary Gensler, chairman of the SEC, said in a speech this month that some mutual funds invest in Bitcoin futures contracts traded on CME and he expects there will be ETF deposits under the Law on investment companies (40).

Gary Gensler, SEC

When combined with other federal securities laws, Bill 40 provides important protections for investors, Gensler added. Given these important protections, I look forward to the staff review of these deposits, especially if they are limited to those Bitcoin futures contracts traded by CME.

Galaxy Digital Holdings, the crypto-focused financial services firm run by former hedge fund manager Mike Novogratz, recently filed for SEC approval to launch the Bitcoin futures ETF.

Duke said: There is increasing pressure for the SEC to approve a crypto ETF and I think it’s inevitable. Investors enjoy protections when trading on regulated markets that are not necessarily there when trading the underlying cryptocurrency.

He welcomed increased scrutiny from regulators and said it would help the industry by applying best practices and empowering people to increased levels of professionalism.

There are states like New York, South Dakota and a few others that come forward and provide a regulatory framework for crypto, Duke added. New York State is emerging as one of the cryptocurrency hubs due to its regulations.

Carbon neutrality

In July, ETC Group declared that BTCE would be the first Bitcoin ETP to offset its carbon footprint.

The issuer will offset the carbon footprint of its flagship Bitcoin ETP with carbon credits, thereby offsetting the carbon emissions associated with mining and trading activities.

ETC Group has said it will fund nature-based, carbon sequestration and renewable energy projects to offset all of its bitcoin-related Scope 3 emissions since the launch of BTCE, and will continue to do so on a quarterly basis. The group also announced that it will join the Crypto Climate Accord, an organization that seeks to evolve the entire crypto industry towards low-carbon, net-zero mining and operations by 2040.

Bradley Duke, ETC Group

Duke said he would like other companies benefiting from cryptocurrencies to take responsibility for their carbon footprints. The ETC group has therefore published its methodology for calculating the carbon footprint online.

As far as possible, all of our products should be carbon neutral in the future, he added. We are already in the process of offsetting and studying the carbon footprint of our other FTEs and for us as an entity.

Research

In August, ETC Group released its second quarter 2021 market reports for Bitcoin, Ethereum, and Litecoin. The study indicates that in April, Bitcoin generated an annualized revenue rate of $ 2.9 billion, and fees generated by Ethereum transactions increased by more than 5,000% year-over-year.

Annualized revenue execution rates are calculated from the total transaction fees, also known as network revenue, paid to crypto miners.

We issue products but we are also interested in industry, technology and investor education, added Duke. The industry is young as cryptocurrencies have only been around since 2009 and there is a lot of complexity so we can help inform investment decisions.

Our research team analyzed the revenue generated by #Bitcoin in the second quarter of 2021.

During this period, the calculated ARR for royalties paid to miners reached nearly $ 3 billion. That’s more than Shopify did last year.

Find out more in our second quarter report: https://t.co/a51rat4iLx#Crypto pic.twitter.com/EVX4SyqtM2

– ETC Group (@ETC_Crypto) August 11, 2021

The volume of decentralized exchanges also increased by more than 8,300% year-on-year in the second quarter to reach $ 3.4 billion.

Duke said: Over the past few months, we’ve seen the major cryptocurrencies generate more revenue through transaction fees than some of the world’s top-valued companies have done in recent years. There was a growing adoption of crypto assets, in institutional balance sheets instead of treasuries, and now even in government pension funds.

NEWSLETTER SIGN-UP

And receive exclusive articles on the securities markets

Net inflows since the start of the year are above the record for 2020.

Sustainable finance is changing rapidly.

The top priorities are to tackle market fragmentation, mitigate data gaps and ensure global alignment.

There is no customer conversation in any asset class where ESG is not discussed.

IOSCO continues its broader analysis of the ETF market in 2021.

[ad_2]