Crypto adoption continues to grow in Europe, as 21Shares and the second biggest bank in France, Société Générale, teamed up to boost institutional access to crypto ETPs.
Société Générale is a leading institutional player in ETPs, and 21Shares is one of the leading issuers of crypto ETPs in the world.
Société Générale Becomes 21Shares’ BTC and ETH ETPs Market Maker
According to an official announcement, Société Générale and 21Shares’ new collaboration will allow institutional access to Bitcoin and Ethereum ETPs in Germany and Eastern Europe.
The bank will support the trading of 21Shares’ BTC and ETH ETPs, including ABTC, CBTC< AETH, and CETH, by offering OTC liquidity on important platforms in the region.
Such fund platforms are operated by important financial institutions, serving as key infrastructure in the institutional trading area.
With this agreement announced in an official release on July 23, Société Générale will act as a market maker, allowing 21Shares’ crypto ETPs to become accessible to a wide institutional public.
Advancing the Mission to Deliver Efficient and Trusted Crypto Solutions
The Global Head of Capital Markets and EMEA Investment at 21Shares, Alistair Byas-Perry, said that the firm is pleased to team up with Société Générale, which is an important player in the European ETF space and together the companies will bring liquidity to BTC and ETH ETPs, advancing the mission to deliver efficient and trusted crypto investment solutions to the European markets.
Martina Schroettle, the Head of ETF Sales Trading UK at Société Générale, also addressed the latest partnership, saying that the bank is thrilled to work with 21Shares to support the trading of their crypto ETPs on fund platforms.
The partnership is expected to enhance:
- Liquidity
- Execution quality
- Ease of access for German and Eastern European institutional investors in the crypto market
This new collaboration will support wider crypto adoption across Europe, along with other industry leaders such as BlackRock, which recently launched a BTC ETP in the region.
21Shares’ new collaboration announcement comes after the firm filed for a new ETF for ONDO with the US SEC on July 22.
