FTX Token ETP is the second initiative between FTX and CoinShares and launches with approximately US$40M in seed capital
CoinShares, Europe’s largest digital asset investment firm with US$3.8bn* in AUM, and FTX, a leading regulated cryptocurrency exchange, announced the launch of a physically-backed FTX Token ETP on Xetra, Germany’s main market. The launch is in partnership with FTX Europe and will begin with seed capital of approximately US$40M.
FTX Token (FTT) is the token of FTX exchange, and the backbone of the FTX ecosystem. It can be utilized for fee discounts, over-the-counter rebates and more.
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CoinShares FTX Physical FTX Token (Ticker: CFTT) leverages the Company’s technology platform, Galata, which connects CeFi platforms to digital asset protocols and markets, in combination with FTX’s industry-leading institutional offerings to provide investors with exposure to FTT.
CoinShares FTX Physical FTX Token
Management Fee: 1.50% p.a.
ISIN: GB00BNRRFJ82
Ticker: CFTT
WKN: A3GX39
Frank Spiteri, CoinShares’ Chief Revenue Officer, commented on the news, “The execution of our product development strategy continues apace, and we are delighted to work with FTX again on the launch of another institutional-grade physically-backed ETP. So far in 2022, our Physical ETPs have grown to reach US$675M in assets under management which we see as a validation of both cryptocurrency as an asset class and our unique product structure. We look forward to working with FTX on future initiatives and launching more ETPs in the weeks and months ahead.”
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CFTT is the fifth ETP to be listed by CoinShares this year, and comes soon after the launch of the CoinShares FTX Physical Staked Solana ETP in March, which marked the beginning of a strategic partnership between CoinShares and FTX. The Solana ETP is part of a unique suite of ‘Staked’ products designed by CoinShares, and features a reduced management fee of 0.0% p.a. and staking rewards of 3.0% p.a. It currently sits at US$107M in assets under management and is Europe’s most cost-efficient Solana ETP.
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