21Shares Reduces Fees for Bitcoin and Ethereum Core ETPs and Expands to Xetra

21Shares has lowered the management fees for its Bitcoin Ethereum Core ETP (ABBA) and listed it on the Xetra exchange.

Announcing a reduction in management fees for its Bitcoin Ethereum Core ETP (ABBA) and its upcoming listing on the Xetra exchange, 21Shares is making cryptocurrency investments more affordable and accessible.

The reduction in the management fee of ABBA to 0.49% aims to make investing in Bitcoin more cost-effective for institutional and retail investors.

Set to begin trading on 14th of July, the listing of ABBA on Xetra expands the availability of the ETP which provides exposure to the price of Bitcoins. It is already available for trading on Euronext Amsterdam, Euronext Paris and on the SIX Swiss Exchange.

Its listing on Xetra will increase the ETP’s liquidity and accessibility for European investors who are seeking exposure to the world’s leading cryptocurrency.

The move by 21Shares to lower the management fee on its Bitcoin Ethereum Core ETP comes as the cryptocurrency market has been struggling with market outflows and volatility.

A recent report by CoinShares found that institutional investors pulled $1.5 billion from cryptocurrency products in the second quarter of 2023. This is the largest quarterly outflow since the start of 2020.

The report also found that the majority of the outflows were from Bitcoin products, which saw outflows of $1.3 billion. Ethereum products, meanwhile, saw inflows of $60 million.

However, despite the recent market difficulties, there is still strong interest in cryptocurrency investments from institutions. A survey by Fidelity earlier this year found that nearly one third of institutional investors have already invested in cryptocurrency, and another third are planning to invest in the next 12 months.

Institutions are increasingly turning to innovative investment products and strategies to navigate the evolving market landscape. Companies like 21Shares are at the forefront of developing such products and catering to the specific needs of institutional investors.

As the cryptocurrency market continues to mature, we can expect to see more companies like 21Shares expanding their product offerings and market reach to capitalize on the growing demand for digital asset investments.