German bank Comdirect, with around three million customers, now offers 11 cryptocurrency exchange traded products (ETPs). “Comdirect has succeeded in significantly linking crypto investments to retirement plans, which our clients have been waiting for for a while,” the bank said.
German bank offering crypto ETPs to its customers
German direct bank Comdirect AG now offers 11 cryptocurrency exchange traded products (ETPs) from 21shares AG. The bank provides online brokerage, banking and advisory services in Germany.
Announcing that its exclusive partnership with Comdirect was effective Tuesday, 21shares detailed:
As part of this innovative partnership, 21shares has been selected as the sole provider of crypto ETP physically backed by the online broker’s savings plan program (Spar plan).
The 11 ETPs are currently listed in Germany and are now available on the Comdirect platform without commission, the announcement adds. ETPs offer investments in bitcoin, ethereum, XRP, bitcoin cash, polkadot, stellar, cardano, solana, etc.
Hany Rashwan, CEO of 21shares, explained that his company was “the first crypto issuer to list a fully secured, 100% physically backed bitcoin ETP on most German exchanges in 2019”. In addition, it is currently “the only issuer to admit four cryptographic ETPs only on Xetra”. The company also listed “the world’s first physically-supported crypto ETP on the SIX Swiss Exchange in 2018,” he said, adding:
We are very happy to offer German customers who want to add bitcoin and other crypto assets to their savings plan a compelling option to do so through Comdirect, an option that was not available for any crypto product until. now.
Comdirect Product Manager and Crypto Savings Plan initiator René Louis Delrieux noted that through Comdirect, “investors are now able to use crypto ETPs through 21shares, which meets the needs of our customers. demanding customers and guarantees market participation. This additional service adds flexibility for immediate use. She estimated:
Together with our partner 21shares, Comdirect has succeeded in significantly linking crypto investments to retirement plans, something our clients have been waiting for for some time.
What do you think of Comdirect offering cryptocurrency ETPs in its savings plan? Let us know in the comments section below.
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