An ETP based on FTX Token (FTT) is being launched by CoinShares, Europe’s largest digital asset manager. FTX, one of the largest altcoin exchanges in the world, is among the partners of the launch.
CoinShares launches FTX Token ETP
ETP will begin trading on Germany’s Xetra exchange with a starting capital of approximately $40 million. FTX Token ETP is the second ETP product created by CoinShares and FTX. Earlier this year, an ETP was released that allows investors to pay SOL stakes. After the latest news, the price of FTX Token (FTT) rose by about 3%.
The new ETP allows a wider range of investors to join FTT. Equity investors can now invest in crypto without buying tokens. Thus, it can accelerate the flow of institutional money to the altcoin project.
Institutional appetite for altcoin projects is growing
The native cryptocurrency of the FTX exchange, FTT, is used to facilitate transactions. Price changes can help understand FTX trading volumes. Because FTX has no publicly traded shares, investors can purchase FTT tokens to invest in the stock market.
FTX Token ETP is Coinshares’ seventh crypto-related ETP this year. product launch. Beyond Bitcoin and Ethereum, institutions are increasingly interested in cryptocurrencies. Polkadot, Tezos, Cardano and Litecoin ETPs are already available.
As we covered in the news of Kriptokoin.com, Grayscale launched a smart contracts fund earlier this year after numerous crypto initiatives. While Wisdomtree and 21Shares offer crypto-backed products, CME announced indices that track altcoin values.
What is ETP and why is it important?
Exchange-traded products (ETPs) are types of securities that track underlying securities, an index, or other financial instruments. ETPs are traded on exchanges similar to stocks, which means their prices can fluctuate from day to day and from day to day. Because it can have a highly volatile price structure, investors have the potential for gains, but there is also the risk of market losses. At the same time, ETPs may contain several or hundreds of underlying investments.
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