Credit: Original article published by CryptoPotato.

After releasing physically-backed exchange-traded products tracking the performance of Bitcoin (BTC) and Ethereum (ETH) earlier this year, CoinShares has expanded its portfolio with the addition of a Litecoin ETP.

Litecoin ETP Arrives from CoinShares

According to an announcement from April 6th, CoinShares has released another exchange-traded product tracking the performance of a cryptocurrency asset called CoinShares Physical Litecoin.

The company revealed that the base fee of the product will be 1.50%. It will be listed on Switzerland’s regulated stock exchange – Swiss SIX Exchange under the ticker LITE. Interestingly, the base currency will be the US dollar, despite being released in Europe.

CoinShares explained that each LITE unit will be backed with 0.20 litecoins upon releasing the product, which should provide investors with “passive exposure” to LTC.

Weighing in on the matter was Towsend Lansing, CoinShare’s Head of Product:

”LITE comes hot on the heels of our Bitcoin and Ethereum product launches in 2021 and will benefit from the same robust and transparent physically-backed product structure. We are excited to add exposure to such a well-accepted and widely traded crypto-asset to our new product line.”

CoinShares is among the largest digital asset investment houses in Europe. The announcement today brought the company’s total number of investment products to seven.

The firm’s portfolio consists of over $4B in assets under management. More than two-thirds of that amount is in Bitcoin exposure, with Ethereum being the second one.

CoinShares’ Expansion Continues

The CoinShares Physical Litecoin became the third crypto ETP product launched by the organization in 2021. The first physically-backed ETP to see the light of day came in January. Somewhat expectedly, it tracked the price of the primary cryptocurrency – Bitcoin.

As CryptoPotato reported in February, Ethreum was the next on the list to receive a similar product developed and released by CoinShares.

Chief Revenue Officer Frank Spiteri reasoned that the Litecoin ETP comes amid increased interest from investors towards the entire cryptocurrency industry:

”As demand for digital assets amongst the traditional investment community steadily increases, we are starting to see the green shoots of demand for investment exposures outside of the two top dominant networks. Coinshares is the leader in creating novel ways for investors to access the digital asset ecosystem, and LITE is the next step on a path to bringing a more comprehensive and diversified offering of ETPs to market.”

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



Comments are closed


Mine Pi From Your Cellphone

Mine Pi Now! - Use our username (cryptosonline) as your invitation code.

Visit Our Other Websites - Premium Domain Names. - Social Network - Mid-century Paris, tokenized on the WAX blockchain. - Ultra-Priviate DEX. - Classic Automobile News.