Deal Ticker: Kellerhals Carrard advises nxtAssets on Listing of Bitcoin and Ethereum ETPs on SIX Swiss Exchange
nxtAssets GmbH is expanding the investment universe by launching its first physically-backed exchange-traded products (ETPs) on Bitcoin and Ethereum. The new products, nxtAssets Bitcoin direct (ISIN: DE000NXTA018) and nxtAssets Ethereum direct (ISIN: DE000NXTA026), will allow Swiss investors to invest in the leading cryptocurrencies Bitcoin and Ethereum using their existing brokerage accounts. nxtAssets' ETPs are fully backed by physically deposited Bitcoin and Ethereum holdings. Custody is handled in Germany by Crypto Finance Deutschland GmbH. The products will be traded among others on Deutsche Börse's Xetra and SIX Swiss Exchange.
nxtAssets GmbH is a new issuer of collateralized crypto ETPs. It is a joint venture comprising several renowned financial institutions: Private Bank Bergos, Bank Vontobel, Interactive Brokers through its subsidiary IBKR Financial Services AG, the Deutsche Börse Group through its subsidiary 360T AG, flatexDEGIRO and Börsenmedien AG.
Press releases / Blogs:
Luca Bianchi (Partner, Capital Markets) of Kellerhals Carrard advised nxtAssets on the listing of the ETPs on SIX Swiss Exchange. The team of Clifford Chance, led by Frankfurt based Partner Gregor Evenkamp working with Senior Associate Werner Radziwill advised nxtAssets on the German law matters.