21Shares, a Swiss-based crypto ETP provider, announced yesterday that it has partnered with Comdirect, a leading German online portal for financial information, to introduce crypto ETPs to savings accounts.
Official announcement states that 21Shares will now be able to offer physically-backed crypto-exchange-traded products (ETPs), to Spar Plan, Comdirect’s savings plan program. 21Shares stated that 11 of its Germany listed ETP’s can be found on Comdirect’s platform at zero commissions.
21Shares was founded in Zug and has offices in Zurich, New York, and London. There are 15 crypto ETPs listed by the company. 21Shares also manages more than $1.35 Billion in assets across its listed products.
Hany Rashwan (CEO of 21Shares) commented on the new partnership. He said that 21Shares was the first to list a 100% collateralized bitcoin ETP on German exchanges in 2019, and is the only issuer to accept four crypto ETPs from Xetra. After listing the first globally-backed crypto ETP physically on the SIX Swiss Exchange, in 2018, this partnership follows. We are thrilled to offer German clients the opportunity to add Bitcoin or other crypto assets to their savings plans through comdirect. This is a new option that was not offered for crypto products before now.
21Shares has crossed $1 billion in crypto assets managed by the company for the first-time on February 20, 2021.
Due to a significant rise in institutional and retail interest in crypto-related investments products, the overall demand for crypto ETPs is on the rise. Comdirect and 21Shares have partnered to allow investors to add crypto assets to their savings accounts.
Investors can now use crypto ETPs from 21Shares to provide a great customer experience. This meets the needs of our clients and ensures market participation. This service is flexible and available immediately. Rene Louis Delrieux (Comdirect) commented that together with 21Shares, comdirect was able to bridge crypto investments to retirement plans. This is something our clients had longed for a while.” Rene Louis Delrieux (Comdirect’s Product Manager, and Initiator of the Crypto Savings Plan), said.