21Shares Partnered with Comdirect to Offer Cryptocurrency ETPs for Saving Accounts
By partnering with the German online retail platform comdirect, 21Shares AG will enable investors to purchase BTC and other digital assets for their savings accounts.
Crypto as a Saving Option
21Shares AG, the Swiss-based investment product issuer, has partnered with the large German online brokerage – comdirect – to bring its cryptocurrency exchange-traded products, or ETPs, to the latter’s savings plan program (Spar plan).
As a result, comdirect’s nearly three million customers will have the option to gain cryptocurrency exposure in their savings accounts.
Hany Rashwan – CEO of 21Shares – outlined his company’s previous endeavors on the German market and predicted that the partnership with comdirect will be highly beneficial for the clients:
“We were the first crypto issuer to list a fully collateralized, 100% physically-backed Bitcoin ETP on most German exchanges back in 2019. This followed us listing the world’s first physically-backed crypto ETP on the SIX Swiss Exchange in 2018.We are very excited to offer German clients who wish to add Bitcoin and other crypto assets to their savings plan a compelling option to do so thanks to comdirect, an option that was not available for any crypto products until now.”
In his turn, Marco Infuso – Managing Director Business Development of the DACH region (the countries of Germany, Austria, and Switzerland) – described this partnership as a “milestone in democratization crypto investments.” In his opinion, a huge number of investors have been considering purchasing BTC, but until now, they did not have the proper investment tools to store the asset in a savings plan.
21Shares and its Achievements
At the beginning of June, the Swiss organization 21Shares teamed up with GHOC to launch a Bitcoin ETP on Aquis Exchange based in the UK and France. The innovation is expected to debut this summer and will be available to professional investors only.
Interestingly, the BTC ETP will be engineered similarly to an ETF, meaning that it will be centrally cleared (CCP). Consequently, institutional investors in France and the UK will receive bitcoin exposure “via a regulated framework and structure which they are already accustomed to.”
Just a few weeks ago, 21Shares announced that institutional investors would be able to invest in Solana (SOL) through an ETP on the Swiss Stock Exchange (SIX). The product, dubbed ASOL ETP, would provide “additional yield through staking rewards by validating transactions on the Solana blockchain.”Source