ETC Group Confirms Launch Of Institutional-Grade Tezos ETC Product On Europe’s Largest ETF Trading Venue Deutsche Börse Xetra

by | Dec 13, 2021 | Adoption, Digital Securities, Latest

ETC Group has confirmed that an institutional-grade Tezos ETC product has launched on Europe’s largest ETF trading venue – Deutsche Börse Xetra.

EXTZ Has Launched On Europe’s Largest ETF Trading Venue

ETC Group , Europe’s leading specialist provider of institutional-grade, digital asset-backed securities confirms that its latest crypto ETP, XTZetc – ETC Group Physical Tezos under the primary ticker EXTZ has launched on Europe’s largest ETF trading venue.

The ETF trading venue is Deutsche Börse Xetra, a market for German equities and exchange-traded funds.

In ETF trading, Xetra holds a market share of about 30 per cent in Europe, making it the European market leader with a selection of more than 1,500 ETFs and ETPs. 

More than 90 per cent of overall share trading on all German exchanges takes place on the Xetra trading venue.

The ETC (exchange-traded commodity/cryptocurrency) is available to investors across 16 EU countries, providing regulated access to Tezos’ network token Tez, or XTZ.

​​EXTZ enables any investor to efficiently participate in the growth of the digital asset while using a secure, institutional-grade product traded on major stock exchanges, just like stocks or ETFs.

It marks a big milestone for Tezos as Maximilian Monteleone, Chief Product Officer at ETC Group stated:

“We have effectively given Tezos a German ISIN number.”

From a technical point of view, EXTZ is structured very similarly to the popular physical gold ETC securities. However, instead of a certain underlying amount of gold, each unit is backed by a predefined amount of Tez.

Thibaut Chessé, Adoption Manager – France, Nomadic Labs remarked:

“This institutional-grade product is a sign of confidence from the financial industry in Tezos. Scalable and energy efficient, the Tezos blockchain is genuinely aligned with the challenges of technological growth and sustainable finance.”

The launch of ETC Group’s EXTZ builds on a significant year of growth for the open-source Tezos ecosystem. Tezos, a pioneering Proof of Stake blockchain, has proven to be fast, secure, and energy-efficient and is the only blockchain network to successfully upgrade itself to increase efficiencies, adopt new features, and lower energy consumption.

Deployments on Tezos are up 15,000% in 2021 and the network has eclipsed 50 million transactions.

Most recently, Tezos was chosen by gaming giant Ubisoft to power in-game digital items and, as the leading protocol for NFTs, Tezos was the exclusive NFT Sponsor of Art Basel Miami Beach 2021, where tens of thousands of art aficionados from around the world opened their first crypto wallet and minted their first NFT at the interactive Tezos exhibition.

ETC Group has pioneered the digital asset management industry by providing institutional quality, 100% collateralised digital asset backed securities.

EXTZ  joins its suite of institutional-grade crypto exchange traded products including Bitcoin, Ethereum and other popular digital assets ETCs that trade on Deutsche Börse XETRA.

Bradley Duke, founder and co-CEO of ETC Group commented:

“We’re responding to demand from institutional investors who’re looking to invest in Bitcoin and Ethereum challengers by adding the Tezos based ETC to our portfolio.

Tezos has developed a solid reputation as a blockchain based platform used for the execution of smart contracts, cross-border payments, and decentralized apps.

It’s on-chain governance model perhaps makes it one of the most democratic platforms in the crypto sector, and is increasingly popular amongst investors.”

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