XBT Provider’s Ethereum ETNs attract $10MM+ AUM in first week of trading

XBT Provider by CoinShares, the company which last week issued the first Ethereum ETN products with newly listed Ether Tracker One and Ether Tracker Euro, announced they have crossed $10MM in assets under management (AUM) a week after beginning trading on Nasdaq Stockholm.

“When the group’s bitcoin ETNs – which are now at $330MM in AUM – launched in 2015, it took one year to attract the initial $10MM in AUM. The Ether Trackers achieved that in less than a week. Initial demand for the Ether ETN from investors of all types has been exceptional, driving substantial volume for an unseeded ETN; especially one in an emerging asset class. The community that was demanding the product has shown up in full force; and now, the community has a new request – research,” says Ryan Radloff, Principal at CoinShares.

In an effort to service this new wave of investors who are requesting professional asset research, CoinShares Research announced they will be launching analyst coverage on Ethereum and its native token, ether. Announced today, CoinShares Research will serve the CoinShares’ family of investors with the first full-time research team dedicated to delivering market-leading insight into the top 5 crypto-assets; and coverage is beginning with ether.

The inaugural Ether Asset Highlight, available as of today, provides an overview of the current state of Ethereum combined with an assessment of key drivers behind long-term utility and speculative value of the ether token. The initial coverage also looks at ether’s performance relative to other more traditional asset classes as well as bitcoin.

Christopher Bendiksen, Head of Research at CoinShares said:

“We took a specific approach and laid out the foundational pillars to understanding ether as an asset, work which we intend to build on in analyses to come. What you’ll find in this research coverage is a pragmatic discussion with a simple valuation approach to consider. You won’t find flashy price targets, and a bunch of marketing.”

CoinShares as a platform is home to multi-strategy offerings of blockchain asset investment vehicles; a family which now represents more than $350MM in crypto-assets under management.

Ryan Radloff, Principal at CoinShares commented:

“When we looked around at the available research in crypto to date, it either revolved strongly around bitcoin, or took a generalist approach to ‘the next biggest crypto-assets.’ While seminal work has been done on bitcoin as an asset – the same could not be said for ether. With this asset highlight, we aim to rectify that situation.”

“We are excited to bring CoinShares Research to life as we begin to support the needs of the next wave of crypto investors. Now that we have a team covering ether, bitcoin and a few others on a full-time basis, expect more great coverage to come soon.”

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