Categories: Bitcoin

21Partnership with German brokerage to offer crypto ETP for savings accounts

The issuer of investment products 21Shares has teamed up with comdirect, a leading online brokerage in Germany, to deposit its exchange-traded crypto products (ETPs) into a savings account.

Thanks to the partnership, almost 3 million comdirect customers can integrate physically stored crypto ETPs into their savings accounts. 21Shares claims that this will be the first time investors have been able to get crypto in their savings accounts.

Marco Infuso, Managing Director at 21Shares, said the new product offering will enable customers to precisely include crypto in their retirement provision and also help participating investors who are already concerned about the use of Bitcoin (BTC) and other cryptocurrencies due to a lack of investment opportunities have made.

“Empowering people to choose how to divide up their retirement investments has made such a project a reality,” he said. “This is exciting for any investor who has thought about buying bitcoins but doesn’t have the right investment vehicles to successfully store in a savings plan.

21Shares and other crypto asset companies have worked to integrate digital assets into the traditional financial sector. The Bitcoin ETP has proven to be a popular choice for investors looking for alternative exposure to cryptocurrencies.

In 2019, 21Shares was the first crypto issuer to list a fully secured Bitcoin ETP on German stock exchanges. Just last month, the company partnered with wealth management firm Ark Invest to apply for an exchange-traded bitcoin fund in the US.

Connected: The issuer of investment products 21Shares will list Bitcoin ETP on the Aquis Exchange

Although the U.S. Securities and Exchange Commission has not yet approved a Bitcoin ETF, regulators could begin to soften their stance in the next few years, according to Todd Rosenbluth. The head of ETF and mutual fund research believes a U.S. Bitcoin ETF could be approved in 2023.

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