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CoinShares reveals Ripple ETP

XRPL marks CoinShares’ fourth launch so far in 2021

CoinShares has launched a Ripple Exchange Traded Product (ETP), its fourth physical crypto ETP this year.

The CoinShares Physical XRP (XRPL) is listed on the SIX Swiss Exchange with a total expense ratio (TER) of 1.50%.

XRPL aims to physically replicate the performance of Ripple (XRP), with each unit of the ETF being capped at 40 XRP at launch.

Townsend Lansing, Head of ETPs at CoinShares, commented, “Once we have determined that a professional product is feasible and it appears that there is a need to create a liquid market for the product to trade, we bring the product to fruition. ”

Frank Spiteri (pictured), Chief Revenue Officer at CoinShares, added: “The digital asset ecosystem is huge and is still growing at breakneck speed.

“As we continue to diversify our product offering in 2021, we will focus on offering investment exposure to those assets and networks that resonate most with our European client base.”

Although XRP gained momentum in 2020 alongside other cryptocurrencies, XRP became controversial at the turn of the year when the Securities and Exchange Commission (SEC) claimed that ripple was a security, not a currency.

On this basis, the regulator filed a lawsuit against the creator of XRP for illegally marketing the crypto-asset to retail investors and failing to provide consumers with the necessary information about the risks involved.

While that news resulted in 21Shares removing XRP from general holdings of its 21Shares Crypto Basket ETP (HODL), the asset saw a surge start through 2021.

After falling 65% in value in the four weeks ending December 29, 2020, XRP soared from $ 0.2 to $ 1.7 between December 29 and April 13.

XRPL is the eighth product from CoinShares. The new ETP also follows the company’s most recent launch of the company’s Litecoin strategy, CoinShares Physical Litecoin (LITE), on April 6th.

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