Bringing you live news and features since 2006 

Iconic Digital launches Ethereum ETP


Iconic Digital has expanded its offering of crypto-based ETPs with the launch of a physically backed Ethereum ETP.

The Iconic Physical Ethereum ETP tracks the spot price of Ethereum. The ETP is 100 per cent collateralised by coins held in an institutional-grade custody solution with Coinbase Custody. Iconic writes that Coinbase Custody offers the most trusted cold storage custody solution for institutions. State Street Bank will also serve as the Ethereum ETP administrator.

The ETP enables European investors to access Ethereum in an industry-leading cost-effective manner. The Iconic Physical Ethereum ETP will list on the Regulated Market of the Frankfurt Stock Exchange, Xetra, in the coming days. It will be available to European investors with a total annual expense ratio of 0.95 per cent and will trade under the Bloomberg ticker symbol IETH GY with an ISIN of DE000A3GTML1.
Michael Geister, Head of Crypto ETPs at Iconic, says: “Our Crypto ETPs are designed to meet the highest institutional-grade standards in terms of security, trust and cost efficiency. Through our products, European investors can access crypto assets in a familiar manner by investing through trusted investment vehicles at industry-leading costs.”

Iconic Funds has issued and listed a physically backed Bitcoin ETP, XBTI, earlier this year on multiple European exchanges (ISIN: DE000A3GK2N1). The firm notes the Iconic Physical Ethereum ETP is just the beginning of its intention to issue further ETPs physically backed by crypto assets.

Patrick Lowry, CEO of Iconic Funds, says: “Crypto is still in the early innings of adoption. Iconic’s vision is to be investors’ trusted partner for accessing the crypto market through our traditional investment vehicles. We look forward to issuing additional, highly innovative crypto ETPs in the near future, as well as partnering with incumbent financial institutions for white-labeled crypto ETP products.”

Time Rice, CEO of Coin Metrics, says: “Coin Metrics is happy to support Iconic’s mission to drive cryptoasset adoption.  It is exciting to see the diversity of investment products coming to market, and Iconic’s newest ETP will provide even more access to more people.”

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by