Zodia Custody Partners With 21Shares For Crypto ETP Custody Services
Zodia Custody has partnered with 21Shares to offer custody services for physically backed crypto exchange-traded products (ETPs) in Switzerland and the European market.
The partnership aims to provide 21Shares investors with additional security and regulatory compliance for its ETPs. Institutions using 21Shares for ETP investments will gain access to cold-storage wallets with 24/7 instant access.
Zodia Custody’s head of financial product development, Mandy Chiu, stated that the partnership will have a real impact on the entire ecosystem without any compromise on security, risk management, or compliance.
According to 21Shares, by the end of Q1 this year, 937 professional investors owned $11 billion in U.S. spot bitcoin ETFs, representing around 20% of the ETFs’ total assets. Gold ETFs had only 95 professional investors in their first quarter post-launch, representing less than 10% of bitcoin ETFs’ reach.
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