10 August 2023

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Coinshares Launches The First Physically- Backed Exchange Traded Product (ETP) Providing Exposure To Tezos

Coinshares, a pioneer in digital asset investing and Europe’s biggest digital asset manager has launched the first physically-backed exchange-traded product (ETP) which provides exposure to Tezos.

All physical XTZ is securely held with Komainu – an institutional-grade regulated digital asset custodian.

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Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Coinshares Launches Physical Staked Tezos ETP

In February, 2021 it was announced by Daniel Masters on a Tezos Commons Teztalks episode that Tezos will be listed on Coinshares, this was later covered on XTZ News here

Now, Coinshares have listed a physical Tezos exchange traded product to expand its range of institutional offerings. Other ETPs available on Coinshares include: Bitcoin,  Ethereum, Litecoin, XRP and Polkadot.

Only Tezos and Polkadot ETPs are currently available as staked physical products and have reduced management fees of 0.0% PA. All other cryptocurrency ETPs contain a management fee. 

The ticker will be ‘XTZS’ and each XTZS Security is 100% physically backed by the underlying asset according to a factsheet created in January 2022.

Each investor has the option to redeem their securities directly for tez. The Coin Entitlement (CE) will be set at 5.0 tez at launch and the price will be determined by the CE multiplied by the tez price.

Trading of the XTZS securities will happen on the Börse Xetra exchange, which is Europe’s largest ETF trading venue. It will join the ETC Groups’ institutional-grade Tezos product (EXTZ), where the trading venue is also Deutsche Börse Xetra.

It will trade in USD and EUR markets and the Bloomberg codes will be set to XTZT GR for USD trading and XTZS GR for EUR trading.

Tezos was chosen for its low energy consumption and low transaction fees. Metacollector aims to later expand to Ethereum 2 when it is deployed.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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