21Shares AG (“21Shares”), the world’s largest cryptocurrency ETP issuer, today announced that Copper.co (“Copper”) will provide digital asset custody and staking services to secure the underlying assets of its cryptocurrency ETPs amid growing interest from institutional investors.
Hany Rashwan, Co-Founder and CEO of 21Shares, said, “Protecting our digital assets in Copper’s award-winning custody architecture gives us the best security available on the market. With this foundation in place, we can create more secure FTEs for our clients. “
Copper’s custody, which uses multi-party compute (MPC) technology, creates three separate key fragments rather than a private key to largely eliminate the risk of exposure when signing transactions. 21Shares will also use Copper’s staking capabilities to manage its digital assets.
As institutional money has poured into digital assets over the past year, the growth in demand for cryptocurrency ETP has exploded. These products are an ideal way to gain exposure to cryptocurrency without the complexity of direct investing. 21Shares ETPs meet this growing demand, while the custody solution provided by copper lowers the security risks institutional investors need to avoid with this new asset class.
Alex Ryvkin, Chief Product Officer of Copper, said: “We are delighted to support 21Shares. They are leading the way in the development of cryptocurrency ETPs, which are an important part of institutional engagement in this maturing asset class. It is a pleasure to work with them and we look forward to continuing to collaborate as they grow.
As of October 1, 2021, 21Shares manages over $ 2 billion in 17 cryptocurrency ETPs and 77 quotes, including the only ETPs in the world that follow Binance, Tree Crypto Index Basket and two ETPs with investor stake rewards ( Tezos and Solana). Its products are listed on eight regulated European and Swiss stock exchanges.
21Shares takes innovation to the next level with the world’s largest suite of cryptocurrency exchange traded products (ETPs). In 2018, he pioneered the world’s first cryptocurrency index listing on the SIX Swiss Exchange, and he continues to fuel his cryptocurrency franchise with cutting-edge research and groundbreaking approaches to product strategy. 21Shares aims to provide all investors with a simple, secure and regulated way to buy, sell and short sell cryptocurrencies through existing bank and brokerage accounts. 21Shares’ issuance platform, Onyx, is used by both 21Shares and third parties to issue and mine cryptocurrency ETPs around the world. For more information, please visit www.21shares.com.
Founded in 2018 by Dmitry Tokarev, Copper provides a gateway to the crypto-asset space for institutional investors by offering custody, principal brokerage, and settlements on 250 digital assets and over 40 exchanges. It is committed to providing flexible solutions to institutional investors that can adapt to the changing crypto-asset space, while allowing much greater transparency and control for asset managers. Copper’s fully integrated products are unique in the cryptoasset space. Backed by a multi-award winning custodian, Copper has built the complete and secure suite of tools and services necessary to acquire, trade and securely store cryptocurrencies, including access to loan trading facilities at margin and DeFi space. At the heart of Copper’s infrastructure is ClearLoop, a framework that connects the universe of exchanges in a secure trading loop – with real-time settlement over networks. Integrated with the market’s major spot and derivative crypto exchanges, ClearLoop has already transformed the way institutional investors can engage in the crypto-asset space since its launch in May 2020. For more information, please visit: www.cuivre.co
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