Finance Feeds logo

ETC Group expands roster of crypto ETPs with Tezos ETC

abdelaziz Fathi

Digital asset manager ETC Group has introduced their newest exchange-traded product (ETP), this time with the launch of XTZetc – ETC Group Physical Tezos under the primary ticker EXTZ.

Tezos

The ETC (exchange traded commodity/cryptocurrency) is now available to investors across 16 EU countries through a listing on Deutsche Börse XETRA, Europe’s largest ETF trading venue.

EXTZ aims to be the lowest cost product providing regulated access to Tezos’ network token, whilst benefiting from the high quality, institutional grade security and custody, and 100% physically backed features that match ETC Group’s other ETC securities.

The company says it has been produced in response to strong demand from institutional investors to gain exposure to the performance of open-source protocol Tezos (XTZ), which is backed by a global community of validators, researchers and developers.

Tezos is a highly-scalable platform that supports smart contract functionality and the development of decentralised applications (Dapps). It uses a variant of the proof-of-stake protocol which offers token holders the opportunity to delegate their assets to a validator and earn staking rewards.

Tezos also applies a governance model that automatically evolves and upgrades itself to ensure stability. Among blockchain projects, Tezos’s consensus mechanism is touted to be one of the most energy-efficient and technically sound platforms.

5 new exchange traded cryptocurrencies (ETCs)

“This institutional-grade product is a sign of confidence from the financial industry in Tezos. Scalable and energy efficient, the Tezos blockchain is genuinely aligned with the challenges of technological growth and sustainable finance,” said Thibaut Chessé, Adoption Manager – France, Nomadic Labs.

Bradley Duke, founder and co-CEO of ETC Group added: “We’re responding to demand from institutional investors who’re looking to invest in Bitcoin and Ethereum challengers by adding the Tezos based ETC to our portfolio. Tezos has developed a solid reputation as a blockchain based platform used for the execution of smart contracts, cross-border payments, and decentralized apps. It’s on-chain governance model perhaps makes it one of the most democratic platforms in the crypto sector, and is increasingly popular amongst investors.”

ETC Group has recently expanded its roster of cryptocurrency exchange-traded products (ETPs) with five cryptocurrency digital asset exposures. The new crypto ETCs include Polkadot (PLKA), Solana (ESOL), Stellar (STLR), Tezos (EXTZ) and Cardano (RDAN).

Physically-backed, the XETRA listing brings Tezos ETC within particularly easy reach of investors in Germany, which now boasts some of the most crypto friendly tax laws in mainland Europe. Trading Tezos through an ETP structure removes the technical challenges associated with cryptocurrency such as setting up a wallet or trading or unregulated exchanges.

Subscribe

Read this next

Digital Assets

FINMA-regulated digital asset provider Taurus expands into Germany

This expansion follows recent moves by BaFin to accelerate the licensing of crypto custody services, aiming to boost market confidence. Following this, several new licenses were issued, notably to Commerzbank, making it the first full-service financial institution in Germany to receive a crypto custody license.

Inside View

Stocknet’s Nick Hall defends gamification as trading platform market set to hit $15.34b by 2030

“The growing popularity of gamified trading has the potential to tackle this financial literacy gap. Rather than simply giving users unfettered access to markets and letting them figure things out for themselves, platforms can offer virtual skill games and challenges to help educate traders and prime them for success.”

Inside View

Infographic: Interest rate and FX derivatives are driving rise of OTC derivatives market

These trends suggest a growing and evolving OTC derivatives market, with an increased focus on risk management and regulatory compliance. The rise in clearing rates, along with the increased initial margin requirements, reflects a more cautious approach to risk in the financial services industry.

Market News

Bank of Canada’s Final 2023 Policy Update on the Canadian Dollar and Future Monetary Landscape

The Bank of Canada’s final policy update for 2023, as reported by Bloomberg, had a relatively subdued impact on the performance of the Canadian dollar, especially when compared to the discernible market reactions following prior BoC policy decisions throughout the year.

Inside View

DTCC’s Systemic Risk Barometer Survey found 2024 US Presidential Election as a top risk

U.S. political uncertainty, particularly regarding the 2024 Presidential Election, has emerged as a key risk, with 51% of respondents highlighting it as a major concern. This reflects the potential impact of election outcomes on market conditions and the industry.

Executive Moves

Options Technology promotes Laura McCann to CFO

“Laura’s promotion to CFO is the next stage in our long-term strategy of building a world-class finance team servicing the global business from our Belfast office. Back in 2016, Jon took on the challenge of laying the groundwork for that vision. Laura has been an integral part of the strategy from day one.”

Digital Assets

Thailand’s crypto economy under the spotlight: a report by HashKey Capital

“I’m excited by the rapid expansion of Thailand’s Web3 sector. With over 3 million overall crypto users and 600% growth in the market in recent years, the dynamism in our DeFi and NFT sectors is clearly evident. Thailand is increasingly becoming a hotspot for digital nomads, drawn by our crypto-friendly policies, affordable living costs, vibrant food and beverage culture and diverse cultural landscape.”

Retail FX

Webull Australia offers 5.4% yield on uninvested cash

“US dollar money market funds are heavily regulated, meaning client funds are managed in a safe, reliable and trusted environment, which is of critical importance to us, and continues to remain top-of-mind for our clients.”

Digital Assets

Bybit welcomes Ethena’s USDe, a decentralized stablecoin utilizing delta-hedging staked Ether

“Our collaboration with Ethena Labs represents our commitment to solving some of the biggest challenges in crypto today, not least, the creation of a decentralized stablecoin. The integration of USDe on Bybit expands our stablecoin offerings, providing our users with an array of uncorrelated solutions accessible from our Unified Trading Account.”

Bybit
<
✖