"LITE comes hot on the heels of our Bitcoin and Ethereum product launches in 2021 and will benefit from the same robust and transparent physically-backed product structure. We are excited to add exposure to such a well-accepted and widely traded crypto-asset to our new product line," he stated.LITE is the third product launched in 2021 by CoinShares institution ETP platform CoinShares Physical. Crypto-backed ETPs have become popular in recent months due to the growing interest of institutions. This trend is acknowledged by Frank Spiteri, Chief Revenue Officer at CoinShares.
"As demand for digital assets amongst the traditional investment community steadily increases, we are starting to see the green shoots of demand for investment exposures outside of the top two dominant networks."Spiteri further added that CoinShares was always on the lookout to create new ways for investors to access crypto assets.
"CoinShares is the leader in developing novel ways for investors to access the digital asset ecosystem, and LITE is the next step on a path to bringing a more comprehensive and diversified offering of ETPs to market," he concluded.