CoinShares Launches Litecoin-Backed ETP
- Each unit of the ETP will represent 0.20 Litecoin.
CoinShares, a UK-based digital asset manager, announced on Tuesday the launch of a new exchange-traded product (ETP), which is backed by Litecoin. The ETP will be initially listed on SIX Swiss Exchange under the ticker LITE.
Dubbed CoinShares Physical Litecoin, each unit of the ETP will be backed by 0.20 Litecoins at the launch. It will be traded against the US dollar as the base currency, and there will be a yearly base fee of 1.5 percent.
Demand for Mainstream Crypto Products Are Increasing
Commenting on the new product, Frank Spiteri, Chief Revenue Officer at CoinShares, said: “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.”
Created by former Google and Coinbase engineer, Charlie Lee, Litecoin is one of the first mainstream altcoins created by forking the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term codebase. The cryptocurrency is intended to be used in the smaller transactions for which Bitcoin is not efficient and is among the top 10 Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with a market capitalization of more than $15 billion.
CoinShares is a major European crypto-focused financial services provider. Apart from Litecoin, it manages investment instruments backed by Bitcoin and Ethereum.
Most recently, the company partnered with Canadian 3iQ for launching a Bitcoin ETF.
“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,” said Townsend Lansing, CoinShares’ Head of product.
CoinShares, a UK-based digital asset manager, announced on Tuesday the launch of a new exchange-traded product (ETP), which is backed by Litecoin. The ETP will be initially listed on SIX Swiss Exchange under the ticker LITE.
Dubbed CoinShares Physical Litecoin, each unit of the ETP will be backed by 0.20 Litecoins at the launch. It will be traded against the US dollar as the base currency, and there will be a yearly base fee of 1.5 percent.
Demand for Mainstream Crypto Products Are Increasing
Commenting on the new product, Frank Spiteri, Chief Revenue Officer at CoinShares, said: “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.”
Created by former Google and Coinbase engineer, Charlie Lee, Litecoin is one of the first mainstream altcoins created by forking the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term codebase. The cryptocurrency is intended to be used in the smaller transactions for which Bitcoin is not efficient and is among the top 10 Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with a market capitalization of more than $15 billion.
CoinShares is a major European crypto-focused financial services provider. Apart from Litecoin, it manages investment instruments backed by Bitcoin and Ethereum.
Most recently, the company partnered with Canadian 3iQ for launching a Bitcoin ETF.
“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,” said Townsend Lansing, CoinShares’ Head of product.