Summary
TLDR: Exchange-traded products (ETPs) for cryptocurrencies have been available in Europe for years, but have gained more attention since the approval of ETFs by the SEC in the U.S. The U.S. funds have attracted $12 billion in less than three months.
Key Points
1. Spot crypto exchange-traded products (ETPs) have been available in Europe for several years, with examples like CoinShares’ Physical Bitcoin ETP and Zurich-based 21Shares’ physically backed ETP.
2. The focus on ETPs has increased since the U.S. Securities and Exchange Commission approved a number of exchange-traded funds (ETFs) for the U.S. market in January, leading to a significant net inflow of about $12 billion in less than three months.
3. The popularity and adoption of ETPs in the crypto market is growing, as evidenced by the success of these products in both Europe and the United States.