21Shares, an issuer of cryptocurrency exchange-traded merchandise (ETPs), right now introduced Copper will present crypto-asset custody and staking companies to safe the underlying property of its cryptocurrency ETPs amidst growing curiosity from institutional buyers.
Copper’s custody, which makes use of Multi-Get together Computation (MPC) know-how, creates three separate key shards somewhat than one personal key to largely eradicate the danger of publicity when signing transactions. 21Shares will even use Copper’s staking capabilities to handle its digital asset holdings.
ETP merchandise are a option to acquire publicity to cryptocurrency with out the complexity of direct funding. 21Shares’ ETPs serve this objective, whereas the custody answer Copper gives diminishes the safety dangers that institutional buyers have to keep away from with the crypto-asset class.
“We’re delighted to be supporting 21Shares. They’re main the best way within the improvement of cryptocurrency ETPs, which make up an necessary a part of institutional engagement on this maturing asset class. It’s a pleasure to be working with them and we stay up for additional collaborating as they develop.”
– Alex Ryvkin, Chief Product Officer of Copper
As of September 1st, 2021, 21Shares manages greater than $1.8B in 17 cryptocurrency ETPs and 77 listings, together with ETPs monitoring Binance, numerous crypto indices, and two ETPs with staking rewards (Tezos and Solana). Its merchandise are listed on eight regulated European and Swiss buying and selling exchanges.