ETC Group, a European provider of digital asset-backed securities, will list the first crypto exchange-traded product (ETP) based on an MSCI index. The ETC Group MSCI Digital Assets Select 20 ETP is expected to list in April on the Deutsche Börse XETRA.
The ETP will track the performance of the MSCI Global Digital Assets Select Top 20 Capped Index. The index, which was developed by MSCI with ETC Group's input, was launched in early March, and represents the 20 leading digital assets. These include cryptocurrencies such as bitcoin (BTC), ethereum (ETH), and solana (SOL). Each individual constituent of the index is capped at a maximum of 30%. Stablecoins, privacy tokens and meme-coins are excluded from the index universe.
Like other ETC Group products, the ETP will be physically backed and the underlying digital assets will be deposited in cold storage custody, in accordance with the index composition and weighting, the company says.
Once listed, the ETC Group MSCI Digital Assets Select 20 ETP can be bought and sold like shares or exchange-traded funds via the regulated stock exchange. A standard securities account with a broker or bank is required.