Zodia Custody Partners with 21Shares for Crypto ETPs in Europe
Zodia Custody, supported by Standard Chartered, has partnered with 21Shares to provide custody services for its crypto exchange-traded products (ETPs) in Switzerland and Europe.
This collaboration enhances security and accessibility for institutional investors, who will benefit from advanced cold-storage solutions. Julian Sawyer, CEO of Zodia Custody, emphasized the importance of this partnership in strengthening the ecosystem without compromising on security, risk management, or compliance.
Despite recent declines in institutional investment in Bitcoin ETPs, the partnership aims to capitalize on the growing interest in digital asset ETPs, which saw $11 billion held by 937 investors in US spot Bitcoin ETFs as of Q1 2024.
READ MORE: US State Embraces Bitcoin with New Legislation, Rejects Government-Backed Digital
The interest in these products has been significant, outpacing the initial adoption of gold ETFs by 10% in their first quarter-post launch. This indicates a robust potential for growth in the digital asset market, driven by increasing institutional participation.
However, the market sentiment has recently turned cautious as Bitcoin’s price fell below $60,000, reflecting a shift from greed to fear among investors.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
