The five new products have a fee of 1.95%
ETC Group has more than doubled its list of cryptocurrency exchange traded products (ETPs) with five digital asset exposures.
Physically backed, the five ETPs are expected to be listed on Deutsche Boerse later this month with total expense ratios (TERs) of 1.95%. The FTEs are:
- DOTetc ETC Group Physical Polkadot (PLKA)
- SOLetc ETC Solana Physical Group (ESOL)
- XLMetc ETC Group Physical Stellar (STLR)
- XTZetc ETC group physical tezos (EXTZ)
- Physical cardano of the ADAetc ETC group (RDAN)
PLKA follows the governance token of polkadot points, polkadot itself having a fragmented, heterogeneous multi-chain, which allows external networks and custom first-layer “parchains” to communicate and create a connected internet of blockchains.
ESOL follows the native currency of solana, which has the same name. The solana protocol provides decentralized financial solutions (DeFi) using its third generation proof-of-stake blockchain that creates an authorization-free system for determining transaction time called proof of history. This has a block time of 400 milliseconds compared to ten minutes per block for bitcoin.
STLR tracks Stellar’s Lumen token, or XLM. Stellar is an open source decentralized protocol for digital currency to fiat transfers, with XLM powering the protocol’s payment network.
EXTZ tracks the price of tezos’ digital token, tez. Tezos is a smart contract blockchain network that focuses on security and scale for large transactions.
Finally, RDAN tracks the price of cardano’s native platform token, ADA. From a niche asset to one of the largest cryptocurrencies by market capitalization, cardano ADA’s blockchain is based on the ouroboros Proof of Stake consensus protocol, which is currently the largest of its kind. in the world.
Cardano has a settlement layer and a compute layer and is designed to facilitate peer-to-peer transactions without high energy costs.
Bradley Duke, co-CEO of ETC Group, said: “Investors in digital assets are becoming increasingly sophisticated and demanding with an appetite for exposure beyond bitcoin and ether.”
Hector McNeil, co-CEO and co-founder of HANetf, which markets and distributes the products, added, “Interest in ETPs has exploded as they offer investors a safe and liquid way to gain exposure to digital assets.
Last month, the two companies teamed up on a thematic ETF, the ETC Group Digital Assets & Blockchain Equity UCITS ETF (KOIN), which was ETC Group’s first equity-based product.