Global X has become the latest ETF issuer in Europe to enter the cryptocurrency exchange-traded product (ETP) market with the launch of two strategies.
The Global X Bitcoin ETN (BT0X) and the Global X Ether ETN (ET0X) are listed on Deutsche Boerse with total expense ratios (TERs) of 0.65%.
Physically collateralised, the two exchange-traded notes (ETNs) offer exposure to the price movements of bitcoin and ethereum, respectively.
The two ETNs are centrally cleared by Eurex Clearing.
Luis Berruga, CEO of Global X, commented: “Digital assets have quickly scaled from a currency into an entire digital economy.
“These new launches underscore Global X’s long-term confidence in and commitment to this asset class.”
According to data from Bloomberg Intelligence, there are now over 70 crypto ETPs listed in Europe with around €7.5bn assets under management (AUM).
The firm has been aggressive in its expansion into the European market in recent months with its range now totalling 29 ETFs.