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21Shares, an issuer of cryptocurrency exchange-traded merchandise (ETPs), at the moment introduced Copper will present crypto-asset custody and staking providers to safe the underlying belongings of its cryptocurrency ETPs amidst rising curiosity from institutional traders.
Copper’s custody, which makes use of Multi-Get together Computation (MPC) expertise, creates three separate key shards somewhat than one personal key to largely get rid of the danger of publicity when signing transactions. 21Shares may also use Copper’s staking capabilities to handle its digital asset holdings.
ETP merchandise are a approach to achieve publicity to cryptocurrency with out the complexity of direct funding. 21Shares’ ETPs serve this function, whereas the custody resolution Copper gives diminishes the safety dangers that institutional traders must keep away from with the crypto-asset class.
“We’re delighted to be supporting 21Shares. They’re main the way in which within the improvement of cryptocurrency ETPs, which make up an essential a part of institutional engagement on this maturing asset class. It’s a pleasure to be working with them and we look ahead to additional collaborating as they develop.”– Alex Ryvkin, Chief Product Officer of Copper
As of September 1st, 2021, 21Shares manages greater than $1.8B in 17 cryptocurrency ETPs and 77 listings, together with ETPs monitoring Binance, numerous crypto indices, and two ETPs with staking rewards (Tezos and Solana). Its merchandise are listed on eight regulated European and Swiss buying and selling exchanges.
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