Several trackers are available as of Tuesday, June 1.
(illustration) ( AFP / MARTIN BUREAU )
The Paris Stock Exchange will launch for the first time on Tuesday, listed products backed by cryptocurrencies, the European stock exchange operator Euronext announced on Monday.
Four pioneer issuers (ETC Group, VanEck, 21Shares, WisdomTree) were chosen to offer investors exchangeable products that evolve according to a basket of securities indexed to cryptocurrencies.
The products of the Swiss fintech 21Shares will be listed only in Paris while those of the other three will also be listed on the Amsterdam Stock Exchange, according to Euronext, which also oversees the Brussels, Dublin, Lisbon, Milan and Olso stock exchanges. In a press release, 21Shares specifies that will be listed from Tuesday on Euronext Paris “three trackers whose underlyings are bitcoin and ethereum”, two major cryptocurrencies. These products, already listed in Switzerland, Germany and Austria, make it possible to buy or resell in a single transaction a basket of securities that follow the performance of cryptocurrencies.
Uncertainty after the May “purge”
“Investors will thus be able to benefit from exposure to the performance of these cryptocurrencies without being constrained either by their storage methods or by the specific regulatory requirements that apply to cryptoassets and their trading platforms”, underlines the fintech specializing in the industry since 2018.
For its part, the American asset manager VanEck, with more than $ 80 billion under management worldwide, intends to “set a milestone” by giving French and Dutch investors access to these two cryptocurrencies on their stock exchanges. respective, according to its European director Martijn Rozemuller. Its exchange-traded index products, which aim to reflect the performance of an index directly linked to the price of bitcoin and ethereum, are already listed on Deutsche Börse Xetra in Germany.
Cryptocurrencies, with a market size of around $ 1.3 trillion, tumbled within two weeks in May. After several months of euphoria, bitcoin, the most popular cryptocurrency, climbed in mid-April to a all-time high of nearly $ 65,000 before falling very sharply, twice dropping below $ 35,000. Bitcoin has gained almost 400% in one year, however. It traded Monday for nearly $ 37,000.