The Paris Bourse is launching listed products backed by cryptocurrencies, Euronext announced. Four pioneer issuers (ETC Group, VanEck, 21Shares, WisdomTree) were chosen to offer investors exchangeable products that evolve according to a basket of securities indexed to cryptocurrencies.
The products of the Swiss fintech 21Shares will be listed only in Paris while those of the other three will also be listed on the Amsterdam Stock Exchange.
21Shares specifies that “three trackers whose underlying assets are bitcoin and ethereum”, two flagship cryptocurrencies, will be listed on Euronext Paris. These products already listed in Switzerland, Germany and Austria. They allow you to buy or resell in a single transaction a basket of securities that follow the performance of cryptocurrencies.
“Investors will thus be able to benefit from exposure to the performance of these cryptocurrencies without being constrained either by their storage methods or by the specific regulatory requirements that apply to cryptoassets and their trading platforms”, underlines the fintech specializing in the industry since 2018.
The size of the cryptocurrency market is approximately $ 1.3 trillion. Their volatility is very important. After several months of euphoria, bitcoin, the most popular cryptocurrency, climbed to an all-time high of nearly $ 65,000 in mid-April before falling very sharply, dropping twice below $ 35,000. Bitcoin has gained nearly 400% in one year, however.