ETC Group has announced it will be listing its entire portfolio of crypto exchange-traded products (ETPs) at the Vienna Stock Exchange. The latest listing by ETC Group comes after a similar listing in Paris and Amsterdam by Euronext and another listing in London by Aquis.
ETC Group is one of the largest providers of financial instruments backed by digital assets. According to the firm’s announcement, this listing will be the first in Vienna to offer a carbon-neutral crypto ETP.
Give Investors Exposure to Crypto
ETPs allow investors to gain exposure to cryptocurrencies but in a regulated market. ETP offerings from ETC Group allow institutions and private investors to have cryptocurrencies in their investment portfolios.
After this year’s crypto boom, ETC Group ventured into the crypto market following an increased demand for crypto products. At the beginning of this year, ETC Group partnered with SIX and listed a Bitcoin ETP. Since then, the firm has expanded greatly in this sector.
Speaking during the announcement, the CEO of ETC Group, Bradley Duke, stated, “We are delighted to list in Austria and on such a respected stock exchange as Wiener Börse. ETC Group provides exposure to bitcoin, ether, and litecoin through our 100% physically backed cryptocurrency ETPs. Bringing our entire portfolio to the Vienna Stock Exchange continues ETC Group’s leadership of the crypto ETP market by launching innovative digital asset classes for institutional and retail investors across European and global exchanges.”
Increased Demand for Crypto Products
A major crypto boom marked the first four months of 2021. The overall market capitalisation for cryptocurrencies rose from $750 billion on January 1 to $2.5 trillion on May 12, after skyrocketing prices of digital currencies.
However, the market dipped in May, but a recent rebound has seen the market cap recover to around $1.9 trillion, which is still a significant increase compared to the start of 2021. The rising prices have increased investor interest in this sector, and the demand for crypto-related products has increased significantly.
Besides increased retail demand, institutional crypto demand has significantly increased in 2021. For this reason, products such as ETPs have become popular in the crypto space; hence more firms are getting regulations to expand their offerings.