CoinShares, Europe’s largest digital asset investment house, today announced the launch of a new exchange traded product, CoinShares Physical Litecoin (Ticker: LITE), bringing its total number of investment products to seven.
New Physically-backed ETP Reflects Growing Investor Appetite for Digital Asset Investment Products
CoinShares has over $4B of assets under management on its platform, of which approximately two thirds is in Bitcoin exposure, and a growing share in Ethereum.
LITE will be the third product launched so far this year on CoinShares’ institutional-grade ETP platform, CoinShares Physical. Each unit of LITE is backed with 0.20 litecoins at launch, providing investors with passive exposure to the Litecoin network’s native asset.
LITE will initially be listed on the regulated SIX Swiss Exchange and has a base fee of 1.50% p.a.
Chief Revenue Officer Frank Spiteri commented: “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 top two 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.”
CoinShares has seen significant investor demand for digital asset investment products beyond just bitcoin. CoinShares’ Weekly Fund Flows Report tracks the changes in investor sentiment via inflows and outflows in popular digital asset investment products and has observed an uptick in inflows into a wider range of digital assets as new investment products come to market. CoinShares intends to add a number of new products to its platform in the coming year to meet this growing demand from investors.
Head of Product Townsend Lansing commented: “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.”