Just-In: Standard Chartered-Backed Zodia Custody Partners 21Shares for Crypto ETP

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As a researcher with a background in digital assets and institutional investments, I’m excited about the recent partnership between 21Shares and Zodia Custody. This collaboration represents a significant step forward for the crypto ETP industry, which has seen massive adoption from institutional investors in recent times.

As a seasoned analyst, I’ve uncovered some intriguing news from the digital asset sector. Zodia Custody, a prominent player in the field of digital asset custody, has recently formed a strategic partnership with 21Shares, a renowned issuer of crypto Exchange-Traded Products (ETPs). In this collaboration, Zodia Custody will assume the role of the primary custodian for 21Shares’ crypto ETPs in Switzerland and the European market. This partnership underscores both entities’ commitment to delivering robust and reliable solutions within the rapidly evolving digital asset landscape.

21Shares and Zodia Custody Announces Key Partnership

As a crypto investor, I’m excited to share that 21Shares has recently announced a partnership with Zodia Custody. This collaboration will enable 21Shares to offer custody services for physically-backed digital asset Exchange-Traded Products (ETPs) in Switzerland and the wider European market. Receiving this information via email from CoinGape on June 25th, I can’t help but feel reassured knowing that my investments will be held by trusted custodians.

Institutions choosing Zodia Custody, supported by Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, appreciate its advanced security features and specialized custody services for their cryptocurrencies. Additionally, those investing in 21Shares ETPs will enjoy the convenience of cold-storage wallets, enabling them to promptly transfer their digital assets between their wallets and the market.

I’ve taken note of your feedback, and in response, I’ve made a significant move as a researcher in this field. To bring you the best possible service, I’ve teamed up with leading innovators in the digital asset exchange-traded product (ETP) sector, 21Shares. This collaboration is designed to create a substantial impact on the digital assets ecosystem, all while maintaining unwavering commitment to security, risk management, and regulatory compliance.

Crypto ETP Prepares for Massive Adoption

As a researcher exploring the digital finance landscape, I’ve observed that Exchange-Traded Products (ETPs), specifically Exchange-Traded Funds (ETFs) like the one based on spot Bitcoin, have ignited significant interest among institutional investors in the cryptocurrency sector.

As a crypto investor, I’ve noticed that according to 21Shares, professional investors held approximately $11 billion in US Bitcoin spot ETFs during Q1 2024, which accounted for nearly 20% of the total assets. This adoption is even larger than the 10% recorded by Gold ETFs during their first quarter following launch.

As a crypto investor, I’ve noticed a concerning trend over the past two weeks. Institutions have been pulling back from Bitcoin Exchange-Traded Products (ETPs) at an alarming rate. According to CoinShares, a leading digital asset investment firm, a staggering $1.2 billion has been withdrawn from these products in just two weeks. This outflow suggests that institutional investors are becoming more risk-averse and are reducing their exposure to Bitcoin. It’s important for us as individual investors to keep an eye on these trends and adjust our own investment strategies accordingly.

The mood in the cryptocurrency market has shifted from greed to fear following a significant drop in Bitcoin’s price, which is now at $61,017 or 0.26% less than its previous value. The lowest and highest points of the past 24 hours were $58,601 and $62,900, respectively. Despite the decline, some investors are taking advantage of the situation to purchase Bitcoin at a lower price.

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2024-06-25 13:31