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After Bitcoin and Ethereum, CoinShares Launched a Physically-Backed Litecoin ETP

After releasing physically-backed exchange-traded products tracking the performance of Bitcoin (BTC) and Ethereum (ETH) earlier this year, CoinShares has expanded its portfolio with the addition of a Litecoin ETP.
Litecoin ETP Arrives from CoinShares
According to an announcement from April 6th, CoinShares has released another exchange-traded product tracking the performance of a cryptocurrency asset called CoinShares Physical Litecoin.
The company revealed that the base fee of the product will be 1.50%. It will be listed on Switzerland’s regulated stock exchange – Swiss SIX Exchange under the ticker LITE. Interestingly, the base currency will be the US dollar, despite being released in Europe.
CoinShares explained that each LITE unit will be backed with 0.20 litecoins upon releasing the product, which should provide investors with “passive exposure” to LTC.
Weighing in on the matter was Towsend Lansing, CoinShare’s Head of Product:
”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.”
CoinShares is among the largest digital asset investment houses in Europe. The announcement today brought the company’s total number of investment products to seven.
The firm’s portfolio consists of over $4B in assets under management. More than two-thirds of that amount is in Bitcoin exposure, with Ethereum being the second one.
CoinShares’ Expansion Continues
The CoinShares Physical Litecoin became the third crypto ETP product launched …
Story continues on Crypto Potato

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