21Shares, the issuer of cryptocurrency exchange-traded products (ETP), announced today that Copper will provide crypto asset custody and mortgage services to protect the underlying assets of its cryptocurrency ETP amid increasing interest from institutional investors.
Storage and use of copper Multiparty Computing (MPC) technology, To create three independent key shards instead of a private key to eliminate the risk of exposure when signing transactions to a large extent. 21Shares will also use Copper’s staking function to manage its digital asset holdings.
ETP products are a way to access cryptocurrencies without the complexity of direct investment. 21Shares’ ETP is used for this purpose, and the custody solution provided by Copper reduces the security risks of the crypto asset class that institutional investors need to avoid.
“We are very happy to support 21Shares. They are in a leading position in the development of cryptocurrency ETP, which is an important part of institutional participation in this mature asset class. I am very happy to work with them and we look forward to further cooperation as they grow. “
—— Alex Ryvkin, Chief Product Officer, Copper
As of September 1, 2021, 21Shares manages more than $1.8B in 17 cryptocurrency ETPs and 77 lists, including ETPs that track Binance, various crypto indices, and two ETPs with staking rewards (Tezos and Solana). Its products are listed on eight regulated European and Swiss exchanges.