CoinShares Launches Chainlink, Uniswap ETPs in Germany

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

article-image

Blockworks exclusive art by axel rangel

share

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.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Templates.png

Research

ZKPs enable efficient offchain transaction processing and validation, resulting in increased throughput and reduced fees. Solana's ZK Compression leverages ZKPs to minimize onchain storage costs, while Sui's zkLogin streamlines user onboarding by replacing complex key management with familiar OAuth credentials.

article-image

Plus, is Polymarket this cycle’s breakthrough mainstream app?

article-image

The crypto asset manager lowered its planned fee from 0.25% to 0.15%, undercutting its competitors

article-image

Plus, a look at planned ETH ETF fees and how they differ from their BTC counterparts

article-image

North Korea suspected in breach of Indian exchange’s multisig wallet

article-image

Plus, Sanctum’s CLOUD token has officially launched — but not without problems

article-image

It’s not yet clear whether Donald Trump is pumping bitcoin. But an unofficial memecoin is still seeing benefit.