Global law firm White & Case LLP has advised ETC Group, Europe's leading provider of digital asset-backed securities, in expanding its product portfolio to include the first cryptocurrency-linked exchange traded product (ETC) based in an index provided by MSCI Inc. .
In line with the firm's other ETCs, including the world's first centrally cleared Bitcoin exchange-traded product, the new product, which tracks the performance of the MSCI Global Digital Assets Select Top 20 Capped Index, is traded in fiat currency and connects the crypto market with the traditional stock market, allowing trading with a safe and liquid product in regulated markets.
The product is physically backed by the respective current constituents of the MSCI Global Digital Assets Select Top 20 Capped Index, which represents a basket of the top 20 digital assets, which are held securely at a regulated custodian bank. It will initially be listed on the German stock exchange XETRA.
ETC Group was founded in 2019 to provide investors with the tools to access investment opportunities from digital assets and the blockchain ecosystem. The company develops innovative securities backed by digital assets, including ETC Group Physical Bitcoin (BTCE) and ETC Group Physical Ethereum (ZETH), which are listed on European exchanges such as XETRA, Euronext, SIX, AQUIS UK and Wiener Bรถrse.
The White & Case Frankfurt team advising on the transaction included partner Karsten Wรถckener, local partner Claire-Marie Mallad and associate Daniel Sander.
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