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Societe Generale to make markets in 21Shares Bitcoin, Ether ETPs
Societe Generale, the world’s 19th-largest banking conglomerate by assets, is partnering with cryptocurrency asset manager 21Shares to provide liquidity for its crypto-based exchange-traded products (ETPs) in European markets.
As part of the partnership, Societe Generale will provide liquidity and market-making services for 21Shares’ cryptocurrency ETPs for investors in Germany and Eastern Europe.
The European banking giant will provide over-the-counter (OTC) liquidity to support the trading of 21Shares’ Bitcoin (BTC) and Ether (ETH) ETPs, including its ABTC, CBTC, AETH and CETH-tickered funds, 21Shares announced on Wednesday.
The bank’s involvement is expected to improve execution, enhance liquidity and simplify access to crypto investment vehicles for institutional investors.
“We are thrilled to partner with Societe Generale, a major player in the European ETF space, as we continue to expand access to our ETPs,” said Alistair Byas-Perry, global head of capital markets and EMEA investment at 21Shares.
“By bringing liquidity to our Bitcoin and Ethereum ETPs, Societe Generale is helping us advance our mission to deliver the most efficient and trusted crypto investment solutions to the market,” he added.
Related: Tether surpasses Germany’s $111B of US Treasury holdings
Partnership continues Societe Generale’s blockchain push
Societe Generale’s partnership with 21Shares is notable, according to Martina Schroettle, head of ETF sales trading (UK) at Societe Generale.
“This marks a significant milestone in our commitment to providing innovative liquidity solutions and enhancing access to a wide range of ETFs and ETPs for our clients,” she said in the announcement.
The bank has also been exploring additional blockchain-related initiatives.
Related: Strategy launches Bitcoin stock pegged at $100 to increase treasury
In September 2024, its blockchain subsidiary, Societe Generale-FORGE, partnered with Bitpanda to advance the adoption of its euro-denominated stablecoin EUR CoinVertible (EURCV).
The partnership came ahead of the full implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework, the first comprehensive regulatory framework for the crypto industry that went into effect for crypto-asset service providers on Dec. 30, 2024.
Cointelegraph has reached out to Societe Generale for comment on its broader blockchain initiatives but had not received a response as of publication.
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