CoinShares and FTX Announce Physical FTX Token ETP as Partnership Continues

Rhea-AI Summary

CoinShares, Europe's largest digital asset investment firm, has partnered with FTX to launch a physically-backed FTX Token ETP on Germany's Xetra, starting with approximately US$40M in seed capital. This is the second initiative between CoinShares and FTX in 2022. CoinShares currently has US$3.8bn in assets under management (AUM), and the new token aims to provide investors exposure to the FTX Token (FTT). CoinShares has seen significant growth in its Physical ETPs, reaching US$675M in AUM this year.

Positive

• Launch of FTX Token ETP with US$40M seed capital supports growth in digital asset products.
• CoinShares' Physical ETP assets have grown to US$675M in 2022, validating cryptocurrency as an asset class.

Negative

• None.

FTX Token ETP is the second initiative between FTX and CoinShares and launches with approximately US$40M in seed capital.

SAINT HELIER, Jersey, April 28, 2022 /PRNewswire/ -- CoinShares ("the Company") (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF), Europe's largest digital asset investment firm with US$3.8bn* in AUM, and FTX, a leading regulated cryptocurrency exchange, today announced the launch of a physically-backed FTX Token ETP on Xetra, Germany's main market.  The launch is in partnership with FTX Europe and will begin with seed capital of approximately US$40M.

FTX Token (FTT) is the token of FTX exchange, and the backbone of the FTX ecosystem.  It can be utilized for fee discounts, over-the-counter rebates and more.

CoinShares FTX Physical FTX Token (Ticker: CFTT) leverages the Company's technology platform, Galata, which connects CeFi platforms to digital asset protocols and markets, in combination with FTX's industry-leading institutional offerings to provide investors with exposure to FTT. 

CoinShares FTX Physical FTX Token
Management Fee: 1.50% p.a.
ISIN: GB00BNRRFJ82
Ticker: CFTT
WKN: A3GX39

Frank Spiteri, CoinShares' Chief Revenue Officer, commented on the news, "The execution of our product development strategy continues apace, and we are delighted to work with FTX again on the launch of another institutional-grade physically-backed ETP. So far in 2022, our Physical ETPs have grown to reach US$675M in assets under management which we see as a validation of both cryptocurrency as an asset class and our unique product structure.  We look forward to working with FTX on future initiatives and launching more ETPs in the weeks and months ahead."

CFTT is the fifth ETP to be listed by CoinShares this year, and comes soon after the launch of the CoinShares FTX Physical Staked Solana ETP in March, which marked the beginning of a strategic partnership between CoinShares and FTX.  The Solana ETP is part of a unique suite of 'Staked' products designed by CoinShares, and features a reduced management fee of 0.0% p.a. and staking rewards of 3.0% p.a.  It currently sits at US$107M in assets under management and is Europe's most cost-efficient Solana ETP.

*All data and figures as of April 26 2022

About the CoinShares Group

CoinShares is Europe's largest digital asset investment firm, managing billions of assets on behalf of a global client base. Our mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under ticker CS and the OTCQX under the ticker CNSRF.

To learn more about CoinShares, please visit: www.coinshares.com

CoinShares Media Contact
Jay Morakis
+1 646 859 5951
press@coinshares.com

Certified Advisor
Mangold Fondkommission AB
+46 (0)8 503 015 50
ca@mangold.se

About FTX Europe
FTX Europe is the European and Middle Eastern division of FTX, a leading global cryptocurrency exchange.  Through FTX Europe, users in the European Economic Area and the Middle East can access FTX's innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, and other services and products.

To learn more about FTX Europe & Middle East, please visit: https://ftx.com/eu

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SOURCE CoinShares Group

FAQ

What is the FTX Token ETP launched by CoinShares?

The FTX Token ETP is a physically-backed exchange-traded product launched by CoinShares and FTX, designed to provide investors with exposure to the FTX Token (FTT).

When was the FTX Token ETP launched?

The FTX Token ETP was launched on April 28, 2022.

What is the initial capital for the FTX Token ETP?

The FTX Token ETP launched with approximately US$40M in seed capital.

How much is CoinShares managing in assets?

CoinShares manages approximately US$3.8bn in assets under management (AUM).

How have CoinShares Physical ETPs performed in 2022?

CoinShares Physical ETPs have grown to reach US$675M in assets under management this year.

What is the ticker symbol for the FTX Token ETP?

The ticker symbol for the FTX Token ETP is CFTT.