Joint cheapest ethereum ETP in Europe<\/p>\n<\/p><\/div>\n
Crypto specialist Iconic Funds<\/a> has expanded its cryptocurrency range with the launch of an ethereum ETP.<\/p>\n The Iconic Physical Ethereum ETP (IETH) is listed on the Frankfurt Stock Exchange and Deutsche Boerse with a total expense ratio (TER) of 0.95%.<\/p>\n The fee makes it the joint cheapest ethereum ETP in the market, level with the\u00a0WisdomTree Ethereum ETP<\/a> (ETHW) which\u00a0launched in April<\/a>.<\/p>\n Physically-backed, IETH tracks the spot price of the second-largest cryptocurrency by market cap.<\/p>\n Coinbase has been selected as the custodian of IETH while State Street will serve as the administrator.<\/p>\n Michael Geister<\/a>, head of crypto ETPs at Iconic Funds, said: \u201cOur crypto ETPs are designed to meet institutional-grade standards in terms of security, trust and cost efficiency.<\/p>\n \u201cThrough our products, European investors can access crypto assets in a familiar manner by investing through trusted investment vehicles at industry-leading costs.\u201d<\/p>\n Iconic funds first entered<\/a> the crypto ETP space in May with the launch of the Iconic Funds Physical Bitcoin ETP<\/a> (XBTI) is listed on the Deutsche Boerse.<\/p>\n Last month, the group became the latest issuer to implement a carbon offsetting initiative<\/a> for XBTI, using a transaction-based methodology to determine its carbon footprint, which it will then offset through the purchase of carbon credits.<\/p>\n Related articles:<\/strong><\/p>\n
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