Societe Generale participates in the market creation for Bitcoin and Ethereum ETP from 21Shares

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Societe Generale – the 19th largest banking group in the world by assets – is partnering with cryptoassets management company 21Shares to provide liquidity for investors in the European market.

In the framework of this partnership, Societe Generale will take on the role of market maker and provide liquidity services for 21Shares' cryptoassets ETPs, serving investors in Germany and the Eastern European region.

This leading European bank will provide liquidity through OTC to support the trading of 21Shares' Bitcoin and Ethereum ETPs, including the funds with the ticker symbols ABTC, CBTC, AETH, and CETH, according to a statement from 21Shares on Wednesday.

The participation of banks is expected to improve execution efficiency, enhance liquidity, and simplify access to cryptoasset investment tools for institutional investors.

"We are very pleased to partner with Societe Generale – a major player in the ETF space in Europe – in expanding access to our ETPs. By providing liquidity for our Bitcoin and Ethereum ETPs, Societe Generale is helping to advance our mission of delivering the most effective and reliable crypto investment solutions to the market," Alistair Byas-Perry – Global Director of Capital Markets and Investments for the EMEA region at 21Shares shared.

bitcoin20 the largest banking group in the world | Source: WikipediaAs of 2023, Societe Generale holds total cryptoassets exceeding 1.7 trillion dollars, according to data from S&P Global.

Partnership Continues to Drive Societe Generale's Blockchain Strategy

According to Martina Schroettle – Head of ETF Trading in the UK for Societe Generale, the partnership between Societe Generale and 21Shares is a significant milestone.

"This is an important milestone in our commitment to providing innovative liquidity solutions and expanding access to a diverse range of ETF and ETP portfolios for our clients," she said in a statement.

This bank is also continuing to explore additional initiatives related to blockchain technology.

In September 2024, the blockchain subsidiary of the bank – Societe Generale-FORGE – partnered with Bitpanda to promote the adoption of the euro-pegged stablecoin EUR CoinVertible (EURCV) they issued.

This partnership was announced just before the MiCA legal framework of the European Union comes into effect for crypto service providers on December 30, 2024. This is the first comprehensive legal framework dedicated to this industry.

Minh Anh

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