German Bank Comdirect Now Offers 11 Cryptocurrency ETPs in Savings Plan
German bank Comdirect, with about three million customers, is now offering 11 cryptocurrency exchange-traded products (ETPs). “Comdirect has succeeded in significantly bridging crypto investments to retirement plans, something that our clients have longed for a while,” the bank said.
German Bank Offering Crypto ETPs to Clients
German direct bank Comdirect AG is now offering 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:
In this innovative partnership, 21shares was retained as the sole provider of physically-backed crypto ETPs to 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 at zero commissions, the announcement adds. The ETPs offer investments in bitcoin, ethereum, XRP, bitcoin cash, polkadot, stellar, cardano, solana, and more.
Hany Rashwan, CEO of 21shares, explained that his company was “the first crypto issuer to list a fully collateralized, 100% physically-backed bitcoin ETP on most German exchanges back in 2019.” In addition, it is currently “the only issuer to admit four crypto ETPs on Xetra alone.” The company has also listed “the world’s first physically-backed crypto ETP on the SIX Swiss Exchange in 2018,” he said, elaborating:
We are very excited to offer German clients who wish to add bitcoin and other crypto assets to their savings plan a compelling option to do so thanks to Comdirect, an option that was not available for any crypto products until now.
Comdirect’s product manager and crypto saving plan initiator, Rene Louis Delrieux, noted that through Comdirect, “investors are now able to use crypto ETPs by 21shares which fits the needs of our demanding clients and ensures market participation. This additional service adds flexibility for immediate use.” She opined:
Together with our partner 21shares, Comdirect has succeeded in significantly bridging crypto investments to retirement plans, something that our clients have longed for a while.
What do you think about Comdirect offering cryptocurrency ETPs in its savings plan? Let us know in the comments section below.