CoinShares XBT Provider goes over $1 billion in AUM for crypto ETPs
XBT Provider AB by CoinShares, the issuer of bitcoin and ether exchange-traded products (ETPs): Bitcoin Tracker One, Bitcoin Tracker Euro, Ether Tracker One and Ether Tracker Euro revealed their annual report for 2017 with shows net income up by 3.5x over prior year with OPEX growing at slightly less (2.9x) and an after-tax bottom line growth of 3.7x from 2016 results.
Furthermore, assets under management (AUM) for XBT Provider’s products grew by over 36x in 2017, with total platform AUM finishing the year at $1.06 billion, having peaked mid-December at $1.53 billion.
According to latest available statistics (April 2017 – March 2018) from NASDAQ Stockholm – XBT Provider ranks as the 2nd largest issuer by exchange-traded volume ($6.5 billion, 37.9%); with its 4 crypto tracking ETPs ranking 4th of the top 5 spots for total volume traded on exchange in the same period (out of 1600+ ETPs).
Beyond financial performance, 2017 was notable for XBT Provider AB with respect to both investor access and new offerings. Investors across a number of new markets including but not limited to the UK, Belgium, France, Spain, and Germany all gained access to the Bitcoin ETPs for the first time, via some of the largest brokers in each market. Additionally, in terms of offerings, the team listed two new, ground-breaking products with Ether Tracker One and Ether Tracker Euro as a result of strong customer demand – supported by AUM growth in the first 3 months of existence.
“This year was exceptional on a number of fronts, and a record-breaking year for the company in terms of financials, customer base expansion, new products and growth of total assets under management (AUM) – all things which would not be possible without an extremely dedicated team and supportive investor base. I am proud of the work from our team who relentlessly pursued new access for investors, driving a customer base expansion of over 7x; and for working hard to bring the ether ETPs to market which drove $350MM+ AUM in their first 4 months of being listed. I personally wish to thank all our people and stakeholders for their contribution to the 2017 results and look forward to what is already an exciting year.”
XBT Provider AB, a CoinShares company, is the Swedish-domiciled issuer of Bitcoin Tracker One and Bitcoin Tracker Euro (COINXBT: SS, COINXBE: SS, respectively) and Ether Tracker One and Ether Tracker Euro (COINETH: SS and COINETHE: SS). These trackers are designed to mirror the return of the underlying asset, bitcoin (in Swedish Kronor and Euro, respectively). In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm.
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