ETC Group, a European provider of digital asset-backed securities, today (11 January) listed DA20 (ISIN DE000A3G3ZL3), the world’s first and only MSCI benchmarked crypto index ETP, on the Euronext Paris exchange.
Launched together with MSCI in April 2023 on the Deutsche Börse XETRA in Germany, the ETC Group MSCI Digital Assets Select 20 ETP tracks 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, represents the 20 leading digital assets. These currently include cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Each individual constituent of the index is capped at a maximum of 30 percent. Stablecoins, privacy tokens and meme-coins, are excluded from the index universe.
The exchange-traded security allows both private and institutional investors to diversify their exposure to the crypto market. Similar to all ETC Group crypto ETPs, the ETC Group MSCI Digital Assets Select 20 is fully backed by cryptocurrency and secured against issuer insolvency risk by a trustee. The tokens are securely stored in cold storage by a regulated crypto custodian. Additionally, all transactions undergo independent monitoring by a designated administrator.
DA20 covers approximately 85% of the crypto market
To celebrate the listing, Bradley Duke and Maximilian Monteleone, both co-founders of ETC Group, alongside Leyla Sharifullina, COO of the company, ceremoniously rang the opening bell at the Paris Stock Exchange, symbolically signaling the commencement of DA20's trading on Euronext Paris
Duke said: "We are immensely proud to list this benchmark ETP on another market. This product offers an efficient means to passively invest and diversify across the breadth of the crypto asset market through a single, regulated capital market product: DA20 covers approximately 85% of the crypto market, making it the most diversified product available."
