Crypto ETP specialist firm 21Shares AG has established a partnership with the largest German online retail platform, comdirect, making them the sole provider of physically-backed crypto ETPs to the online broker’s savings plan program (the Spar plan).
The firm writes that 11of their ETP offerings currently listed in Germany are available on the comdirect platform at zero commissions.
Currently comdirect provides more than 2.9 million customers (Sept 2020) with products and services to carry out their banking and securities trading transactions. 21Shares writes that this partnership marks a first for investors opting to add crypto assets into their savings accounts.
Commenting on the news, Hany Rashwan CEO of 21Shares says: “We were the first crypto issuer to list a fully collateralised, 100 per cent physically-backed bitcoin ETP on most German exchanges back in 2019 and today are the only issuer to admit four crypto ETPs on Xetra alone. This followed us listing the world’s first physically-backed crypto ETP on the SIX Swiss Exchange in 2018. We are very excited to offer German clients who wish to add bitcoin and other crypto assets to their savings plan a compelling option to do so thanks to comdirect, an option that was not available for any crypto products until now.”
Marco Infuso, Managing Director Business Development of the DACH region says: “Empowering people to choose how they allocate their investments for their retirement has led to such a project to materialise. This is very exciting for any investors who have been thinking about purchasing bitcoin but did not offer the proper investment tools to store them successfully in a savings plan. This partnership now makes it possible – another milestone in democratisation crypto investments.”
comdirect Produkt Manager and Crypto saving plan Initiator, Rene Louis Delrieux says: “For an outstanding customer experience, investors are now able to use crypto ETPs by 21Shares which fits the needs of our demanding clients and ensures market participation. This additional service adds flexibility for immediate use. Together with our partner 21Shares, comdirect has succeeded in significantly bridging crypto investments to retirement plans, something that our clients have longed for a while.”