21Shares, a cryptocurrency exchange-traded product (ETP) provider, has partnered with comdirect, a prominent online broking firm in Germany, to introduce its ETPs to savings accounts. comdirect’s approximately 3 million clients will be able to incorporate physically-backed crypto ETPs into their Spar savings accounts as a result of the agreement. According to 21Shares, this is the first time that investors may get crypto access through their savings accounts.
“Empowering individuals to select how they contribute for their future has resulted in the development of such a venture,” he added. “This is quite fascinating for any investors who have already been considering acquiring bitcoin but was unable to do so due to a lack of appropriate investing instruments to properly put them in a savings scheme.”
21Shares and other crypto asset companies have also been attempting to incorporate digital assets into conventional finance. Bitcoin ETPs have shown to be a common choice among investors looking for a different way to invest in cryptocurrencies.
21Shares was the first cryptocurrency issuer to offer a totally collateralized Bitcoin ETP on German markets in 2019. The business joined up with asset management Ark Invest only last month to register for a Bitcoin exchange-traded fund in the United States.
Even though the US Securities and Exchange Commission has yet to authorize a Bitcoin ETF, Todd Rosenbluth believes that regulators will start to loosen their position in the coming years. According to the chief of ETF and mutual fund study, a Bitcoin ETF in the United States might be permitted by 2023.
