Big companies such as Iconic Digital Asset, a part of Iconic Funds, offer a crypto product. This digital product is called ETP, which means Exchange Traded Products. The product was launched on the Ethereum blockchain.

ETP Profiles Ethereum Spot Price

The Ethereum ETP monitors the spot price of Ethereum. Investors can take advantage of this unique product because it is fully collateralized. Coinbase Custody also supports the collateralized product.  The service offers a trustworthy cold storage solution to financial institutions. Another organization that promotes the ETP is State Street Bank. This institution manages funds and administers significant assets for other financial institutions. State Street Bank will issue the product.

Open to European Investors

European investors will benefit from this opportunity to claim the ETPs. They can access the product cheaply too. Investors could grab this asset soon as it prepares to be listed on the Regulated Market for FSE. The Ethereum backed product will be available to investors in a few weeks. The product will cost 0.95% as the aggregate expense ratio per year. 

Investors will identify the collateralized asset with the ticker symbol for Bloomberg, which is IETH GY. Michael, the team lead at Crypto ETPs, says that the products are created to fulfill institutional standards. The standards refer to security, trust, and low or no-existent transaction cost to users. The Head at Crypto ETP says introducing the new product will open a new window of investment opportunities, especially for Cryptos to investors from Europe. 

Iconic Funds Will Serve As A Broker

Not only has the product exposed European users of crypto to digital assets, but the company will play an essential role as a broker. Users from Europe will do this at a competitive cost too. Iconic Funds is leading the crypto revolution by listing digital assets that investors physically back. Collateralized products earlier released by the company are Bitcoin ETP and XBTI. The company released the assets on several exchanges in Europe. With ETP, the financial institution believes it is just getting started with releasing crypto assets to investors that offer products.

Institutional Investment Vehicles Are Safer

Patrick, CEO at Iconic Funds, says that although crypto is still an emerging market, the company is strategically coming up with solutions to create safe platforms for investors to access the volatile market of crypto via their institutional investment vehicles. The top executive at Iconic says it will partner with other financial institutions going forward to create crypto ETP products that are white-labeled.

Tim, The CEO at Coin Metrics, was delighted about the development. Tim offered support to the vision of Iconic Funds to foster the adoption of the digital asset. While European investors are enthused about the support that crypto-assets receive from traditional institutions, Tim is happy about investment diversification’s opportunity to new and old investors in the crypto ecosystem. He lauds the importance of giving a choice to investors to diversify investment and risk.

He believes the new development of collateralized products created on the Ethereum blockchain will offer more stability and protection for investors. New assets like the ETP will also become accessible to many people.