CoinShares Launches Chainlink, Uniswap ETPs in Germany

The two assets have a combined market capitalization of more than $8 billion


Blockworks exclusive art by axel rangel


key takeaways

  • Firm expects “a more thematic approach to digital assets” to continue as investors look beyond BTC, ETH
  • Competitor 21Shares has launched similar products this year

CoinShares has launched two more crypto ETPs in Germany, bringing the firm’s total ETP (exchange-traded product) launches this year to seven. 

The Physical Chainlink and Physical Uniswap ETPs are listed on Germany’s main market Xetra, the company announced Wednesday. They each carry a management fee of 1.5%.

CoinShares Chief Revenue Officer Frank Spiteri said in a statement that investors have gained interest in digital assets beyond bitcoin and ethereum as the sector has evolved.

“A more thematic approach to digital assets is emerging amongst those most familiar with crypto, and we expect that trend to continue as research and investor education improves,” he said.

A CoinShares spokesperson didn’t immediately return a request for further comment. 

Oracle protocol Chainlink is designed to bridge real-world information to the smart contracts running on a blockchain platform. Its native currency, LINK, has a market capitalization of roughly $5 billion, according to data compiled by Blockworks.

An alternative to centralized exchanges, Uniswap allows users to either trade or provide the liquidity that supports trading activities within its application. Uniswap (UNI) has a market cap of roughly $3.2 billion.  

CoinShares manages roughly $3.3 billion in assets. After a record fourth quarter that saw the company notch its highest quarterly earnings and assets under management, its executives on Tuesday reported a slide last quarter.

The launches follow the firm last week bringing to Xetra a physically-backed FTX Token ETP in partnership with the crypto exchange. The product had seed capital of roughly $40 million.

Others have launched similar products in recent months. 

Competitor 21Shares launched ETPs with LINK and UNI as underlying assets in February, as crypto ETPs continue to proliferate in Europe. 21Shares added products focused on FTX Token (FTT) and Decentraland (MANA) that same month.

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