With Bitcoin continuing its impressive rally on the price charts, investors all around the world are participating in trading the digital asset. On the back of the world’s largest cryptocurrency recording a new ATH beyond $35,000, this is likely to be the case in the near-term as well.

Europe is no exception to this rule, with the region’s largest digital asset firm CoinShares recently announcing that the Company’s XBT Provider line of exchange-traded products touched record trading volumes on 4 January 2021.

According to a press release from the platform, over $202 million in XBT certificates was traded on the market’s first day of trading in 2021, with CoinShares having the highest volume traded in any Europe-listed crypto-ETP.

Read Also:   Singapore’s third-largest bank appears to be building a crypto custody solution

The company also recorded over $2.9 billion in AUM, at the time of writing, surpassing other players in the region such as ETC Group’s BTCE which has $100M in AUM and 21Shares with over $150M in AUM.

CoinShares’ Chief Revenue Officer, Frank Spiteri cited an “unprecedented volume of interest in Bitcoin from institutional investors” to explain the said surge in volume. He added,

“As wealth managers, private banks, and European institutions look to add Bitcoin to their portfolios, our ETPs are the logical choice.”

XBT Provider is a Sweden-based issuer of exchange-traded products listed on Nasdaq Stockholm AB, wholly owned by the CoinShares Group.

Read Also:   States sue the OCC and Brian Brooks for overriding their controls on predatory lending

In 2015, the ETP Bitcoin Tracker One (COINXBT: SS) became the first Bitcoin-referenced security available on a regulated exchange when it was listed on Nasdaq Stockholm.

“The narrative shift around Bitcoin over the last six months has been profound. Investors used to consider it a risk to allocate to Bitcoin. Now, it’s a risk not to allocate to Bitcoin,” Jean-Marie Mognetti, Chief Executive Officer at CoinShares, added.

XBT Provider is said to provide investors of all types exposure to Bitcoin, without being subject to the premium associated with other products in the market or the risk of trading the assets themselves.


Download MAXBIT Android App, Your best source of all crypto news!
Google Play


CoinShares XBT Provider ETPs record trades worth $202M on 2021's first day

by Rose Battleson
Choose A Format
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format