21Shares, the issuer of exchange-traded products (ETPs), today announced that it will provide crypto asset custody and storage services to secure the underlying assets of its ETP amid growing interest from institutional investors.
Copper Custody, which uses Multilateral Computing (MPC) technology, creates three separate master segments rather than a single private key to largely eliminate exposure risk when signing transactions. 21Shares will also use Copper’s staking capabilities to manage its holdings of digital assets.
ETP products are a way to get exposure to cryptocurrencies without the complexity of direct investment. 21Shares’ ETPs serve this purpose, while Copper’s custody solution reduces the security risks that institutional investors need to avoid with the crypto asset class.
“We are delighted to support 21Shares. They are leading the way in developing crypto ETPs, which are an important part of institutional participation in this mature asset class. It is a pleasure to work with them and we look forward to further collaboration as they grow.”
– Alex Rifkin, Chief Product Officer, Copper
As of September 1, 2021, 21Shares manages over $1.8 billion in 17 cryptocurrency ETPs and 77 listings, including Binance tracking ETPs, various crypto indices, and two ETPs with rewards staking (Tezos and Solana). Its products are listed on eight regulated European and Swiss trading exchanges.