Societe Generale to make markets in 21Shares Bitcoin, Ether ETPs

2 days ago

Societe Generale volition supply liquidity for 21Shares’ Bitcoin and Ethereum ETPs, expanding entree for organization crypto investors successful Europe.

Societe Generale to marque   markets successful  21Shares Bitcoin, Ether ETPs

Societe Generale, the world’s 19th-largest banking conglomerate by assets, is partnering with cryptocurrency plus manager 21Shares to supply liquidity for its crypto-based exchange-traded products (ETPs) successful European markets.

As portion of the partnership, Societe Generale volition supply liquidity and market-making services for 21Shares’ cryptocurrency ETPs for investors successful Germany and Eastern Europe.

The European banking elephantine volition supply over-the-counter (OTC) liquidity to enactment the trading of 21Shares’ Bitcoin (BTC) and Ether (ETH) ETPs, including its ABTC, CBTC, AETH and CETH-tickered funds, 21Shares announced connected Wednesday.

The bank’s engagement is expected to amended execution, heighten liquidity and simplify entree to crypto concern vehicles for organization investors.

“We are thrilled to spouse with Societe Generale, a large subordinate successful the European ETF space, arsenic we proceed to grow entree to our ETPs,” said Alistair Byas-Perry, planetary caput of superior markets and EMEA concern astatine 21Shares.

“By bringing liquidity to our Bitcoin and Ethereum ETPs, Societe Generale is helping america beforehand our ngo to present the astir businesslike and trusted crypto concern solutions to the market,” helium added.

The apical 20 largest banking conglomerates. Source: Wikipedia

Societe Generale holds implicit $1.7 trillion successful full assets arsenic of 2023, according to S&P Global data.

Related: Tether surpasses Germany’s $111B of US Treasury holdings

Partnership continues Societe Generale’s blockchain push

Societe Generale’s concern with 21Shares is notable, according to Martina Schroettle, caput of ETF income trading (UK) astatine Societe Generale.

“This marks a important milestone successful our committedness to providing innovative liquidity solutions and enhancing entree to a wide scope of ETFs and ETPs for our clients,” she said successful the announcement.

The slope has besides been exploring further blockchain-related initiatives.

Related: Strategy launches Bitcoin banal pegged astatine $100 to summation treasury

In September 2024, its blockchain subsidiary, Societe Generale-FORGE, partnered with Bitpanda to beforehand the adoption of its euro-denominated stablecoin EUR CoinVertible (EURCV).

The concern came up of the afloat implementation of the European Union’s Markets successful Crypto-Assets Regulation (MiCA) framework, the archetypal broad regulatory model for the crypto manufacture that went into effect for crypto-asset work providers connected Dec. 30, 2024.

Cointelegraph has reached retired to Societe Generale for remark connected its broader blockchain initiatives but had not received a effect arsenic of publication.

Magazine: Will Robinhood’s tokenized stocks REALLY instrumentality implicit the world? Pros and cons 

View source