Societe Generale To Provide Liquidity For 21Shares Crypto ETFs

Banking conglomerate Societe Generale has strategically partnered with cryptocurrency asset manager 21Shares to provide liquidity for its crypto-based Exchange-traded Products (ETPs) in European markets.

Ultimately, this is a step towards expanding institutional access to this type of liquidity in Europe.

Societe Generale’s Partnership Brings Expansion to 21Shares’ ETPs 21Shares recently announced the news, noting that this is an opportunity to enhance liquidity across its ETPs on fund platforms for investors in both Germany and Eastern Europe.

As its partner, Societe Generale, which has a stellar reputation with ETPs, will provide support for the trading of 21Shares’ Bitcoin and Ethereum ETPs, including ABTC, CBTC, AETH, and CETH.

In other words, the European banking giant will be the market maker and liquidity provider in this partnership.

Precisely, its core responsibility would be to provide over-the-counter (OTC) liquidity on key fund platforms in the regions mentioned above.

Initially, these platforms are operated by major financial institutions, serving as critical infrastructure, especially for institutional trading.

This is a strategic approach that expands 21Shares’ flagship crypto products to a broader base of professional investors.

Alistair Byas-Perry, the global head of capital markets and EMEA investment at 21Shares, acknowledged the company’s thrill at having Societe Generale on board for this initiative.

Societe Generale also does not overlook the importance of the partnership to its ecosystem.

Martina Schroettle, Head of ETF Sales Trading (UK) at Societe Generale, described it as a significant milestone in the company’s commitment to providing innovative liquidity solutions.

Societe Generale and its Other Blockchain-based Deals Aside from this deal, Societe Generale has been scouting for blockchain-based partnerships and investments to engage with.

Last September, the banking giant partnered with Bitpanda.

The primary aim was to fast-track the mainstream adoption of Societe Generale’s euro-denominated stablecoin, EUR CoinVertible (EURCV).

Similarly, the French bank announced the launch of USD CoinVertible (USDCV) , a U.S. dollar-pegged stablecoin.

This new stablecoin will be available on both the Solana and Ethereum networks.

Notably, this move positions Societe Generale as the first major European bank to issue a dollar-backed stablecoin on public blockchains.

As reported by TheCoinRise, USDCV will be issued through SG-Forge, Societe Generale’s digital asset division, which specializes in blockchain-based financial solutions.

With the products already in place, creating a dollar equivalent is the next logical move for the bank.

Crypto ETPs See Significant Inflows Recall that crypto investment products recently saw record-breaking inflows two weeks ago, marking the 14th consecutive week of gains.

According to reports, global crypto ETPs recorded $4.4 billion in inflows that week.

The inflows came as Bitcoin surged past $122,000 for the first time on July 14. With the latest gains , year-to-date inflows in crypto ETPs reached a new high of $27 billion, while total assets under management in crypto ETPs crossed $220 billion for the first time.

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