Jersey-Based Crypto-Driven Firm CoinShares Fires up Algorand ETP on Boerse Xetra

CoinShares, a Jersey-based crypto-oriented investment firm founded in 2015, has recently announced that it would be listing its staked Algorand exchange-traded products (ETP) on Germany’s market Xetra.

According to the official announcement issued on July 14th, the ETP, dubbed CoinShares Physical Staked Algorand (RAND), will be trading on the Deutsche Boerse Xetra with a total exchange ratio (TER) of 1.50%.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is a Crypto Bridge? (Explained with Animations)

SUBSCRIBE

ON YOUTUBE

Xetra, launched back in 1997 and accounting for over 90% of stock trading in Germany, is a Frankfurt-based electronic trading platform owned by Deutsche Börse.

The official report read that RAND will leverage Galata, CoinShares’ proprietary tech platform acting as a bridge between traditional finance and decentralized finance (DeFi), and allowing investors to earn an additional yield of 2% via staking reward.

Townsend Lansing, head of product at CoinShares, noted that the current crypto bear market and the massive decline in prices haven’t affected the investment company whatsoever. On the contrary, he added that there is a significant demand for their products, including physically-backed staked ETPs.

Lansing also mentioned that RAND was a "key part" of CoinShares' long-term product strategy, adding that the Algorand ETP rollout comes at a perfect time - amidst the backdrop of encouraging regulatory developments. He added:

“We see [MiCA] as a fantastic first step towards a comprehensive and transparent regulatory regime governing digital assets."

In fact, RAND is the seventh ETP to join CoinShare’s offerings list, including other blockchain networks and digital assets such as Tezos (XTZ), Solana (SOL), Polkadot (DOT), Polygon (MATIC), Cosmos (ATOM), and Cardano (ADA).

Last week, CoinShares, managing billions of assets, acquired Paris-based firm Napoleon Asset Management and gained access to the European Union. The firm is now able to promote its ETPs and market services across the region.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Full Bio

All Expert Contributors & Analysts