21Shares’ Bitcoin Ethereum Core ETP, known as ABBA, will soon be available on Deutsche Börse’s Xetra platform as the company announces a reduction in the product’s management fee by 0.49%.
In a recent announcement, the leading issuer of cryptocurrency exchange-traded products revealed its plans to lower the management fee for its Bitcoin (BTC) and Ethereum (ETH) Core ETP, ABBA, ahead of its debut on the Xetra exchange.
The ABBA ETP is entirely backed by BTC and ETH, the two largest cryptocurrencies by market capitalization. Additionally, it is securely stored using institutional-grade custodial services.
Effective March 12, the management fee for ABBA will be reduced by 0.49%. This fee adjustment is intended to enhance the affordability and accessibility of the dual-cryptocurrency ETP for investors before it lists on Xetra.
Xetra is recognized as one of Deutsche Börse’s premier trading platforms for exchange-traded products. The firm anticipates that the listing will increase liquidity and provide broader access for European investors.
Mandy Chiu, Head of Financial Product Development at 21Shares, noted that the reduction in management fees for ABBA reflects the company’s commitment to offering cost-effective and innovative investment products in the crypto space.
“Lowering the fees on ABBA and listing it on Xetra are crucial steps in making Bitcoin and Ethereum more accessible through a reliable and regulated investment vehicle,” Chiu stated.
Last November, 21Shares expanded its European portfolio by introducing four crypto-backed ETPs, each tied to different cryptocurrencies, including Pyth Network (PYTH), Ondo (ONDO), Render (RENDER), and Near Protocol (NEAR). The NEAR ETP even enables investors to reinvest staking rewards from the token back into the ETP.
Most recently, on March 7, 21Shares filed an updated S-1 application for a spot Polkadot (DOT) exchange-traded fund with the U.S. Securities and Exchange Commission, following an earlier application submitted on January 31.