21Shares lists Bitcoin Ethereum Core ETP ABBA on Xetra and cuts down management fee

21Shares’ Bitcoin Ethereum Core ETP, ABBA, will be listed on Deutsche Börse’s Xetra platform as the firm reduces the product’s management fee by 0.49%.

In a recent press release, the world’s largest cryptocurrency exchange-traded product issuer said it would be cutting down the management fee for its Bitcoin btc-1.41% Bitcoin Ethereum eth-1.79% Ethereum Core ETP ABBA, ahead of its listing on the Xetra exchange.

The firm’s Bitcoin Ethereum Core ETP, ABBA, is fully backed by BTC and ETH, two of the largest cryptocurrencies by market cap. The product is also securely held in institutional-grade custody.

Starting from March 12, ABBA’s management fee will be cut down by 0.49%. The Swiss wealth manager’s fee reduction is aimed at making the dual-product ETP more cost-effective and accessible for investors ahead of its Xetra listing.

Xetra is one of Deutsche Börse’s largest trading platform for exchange-traded products. The firm hopes that the product’s listing on Xetra will be able to provide more liquidity and accessibility for European investors.

Head of Financial Product Development, Mandy Chiu, at 21Shares said that the management fee reduction for ABBA aligns with the firms mission to provide investors with cost-efficient and innovative crypto investment products.

“Reducing the fees on ABBA and bringing it to Xetra are important steps in making Bitcoin and Ethereum more accessible through a trusted and regulated investment vehicle,” said Chiu.

Last November, 21Shares introduced four crypto-backed ETPs to its Europe offerings. The ETP’s were pegged by four different cryptocurrencies, which are Pyth Network Ondo ondo-4.22% Ondo, Render render-5.02% Render, and the Near Protocol . The firm’s NEAR ETP allows investors to reinvest staking rewards from the token into ETP.

Most recently, 21Shares filed an official S-1 application for a spot Polkadot dot-3.02% Polkadot exchange-traded fund to the U.S. Securities and Exchange Commission on March 7. The filing is an updated version of the firm’s first Polkadot ETF application from Jan. 31.