21Shares, an issuer of cryptocurrency exchange-traded merchandise (ETPs), at this time introduced Copper will present crypto-asset custody and staking companies to safe the underlying belongings of its cryptocurrency ETPs amidst rising curiosity from institutional traders.
Copper’s custody, which makes use of Multi-Party Computation (MPC) technology, creates three separate key shards somewhat than one non-public key to largely get rid of the chance of publicity when signing transactions. 21Shares may even use Copper’s staking capabilities to handle its digital asset holdings.
ETP merchandise are a approach to achieve publicity to cryptocurrency with out the complexity of direct funding. 21Shares’ ETPs serve this goal, whereas the custody answer Copper supplies diminishes the safety dangers that institutional traders must keep away from with the crypto-asset class.
“We’re delighted to be supporting 21Shares. They’re main the best way within the growth of cryptocurrency ETPs, which make up an vital 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.