21Shares launched two physically backed crypto exchange-traded products in Europe on Tuesday, giving brokerage-account investors access to Lighter and Venice Token without directly holding either asset.
The Lighter product, LIHT, is listed on Deutsche Börse Xetra. The Venice Token product, VENC, trades on SIX Swiss Exchange. The issuer’s announcement identifies LIT and VVV as the assets backing the respective products.
Investors hold the ETP securities in brokerage accounts, while custodians hold the underlying tokens, according to 21Shares product information. This structure gives investors access through listed securities rather than requiring them to hold the tokens themselves.
Both products charge an annual fee of 2.5%, the company’s product pages say. Buyers may also incur brokerage or trading costs, which can add to the expense of holding the securities.
21Shares describes Lighter as a decentralized venue for perpetual-futures trading and Venice as an artificial intelligence platform designed with privacy as a focus. The ETPs therefore connect brokerage investors with two different areas of the digital-asset market.
The company points to its first physically backed crypto ETP in 2018 as an earlier example of this product format. The announcement did not identify a subsequent scheduled decision or milestone for either listing.
