Global X ETFs has launched its first exchange-traded products (ETPs) to be physically-backed by cryptocurrencies.
The firm said that the Global X Bitcoin ETP (BT0X) and the Global X Ethereum ETP (ET0X) will provide clients with a cost-effective way of accessing both bitcoin and ethereum.
Both products have a respective “arranger fee” of 0.65% and join a pre-existing range of products, including the Global X Blockchain Ucits ETF. They are listed on Deutsche Börse Xetra.
Coinbase Custody International is operating as the cryptocurrency custodian for both products.
Global X has placed both new ETPs in the highest-risk class, classifying them as a “seven out of seven”. Poor and fluctuating market conditions are set to impact the products’ performance and hinder positive investment return, the firm said.
The firm, which is a member of the Mirae Asset Financial Group, has over $620 billion in assets under management globally.
© 2022 funds europe
