London, UK (14th December 2021) - ETC Group (www.etc-group.com), Europe’s leading specialist provider of institutional-grade crypto-backed securities, has announced that it has partnered with CryptoCompare (https://data.cryptocompare.com), a leading digital asset market data provider, to supply it with market and pricing data for its industry-leading products.
ETC Group, which launched the world’s first physically-backed and centrally cleared Bitcoin exchange-traded product on Deutsche Börse XETRA in June 2020 and now has more than US$1.8 billion assets under management, will use CryptoCompare’s CCCAGG pricing to calculate daily NAV marks as well as for index calculation and backtesting. CryptoCompare is authorised and regulated by the FCA as a benchmark administrator.
Bradley Duke, CEO of ETC Group said:
ETC Group provides only the highest quality digital asset securities to investors, which is why we’ve focused on 100%% physically backed securities. Partnering with CryptoCompare makes complete sense for us. Their extensive suite of digital asset data and market-leading methodologies made them a clear choice to power ETC Group’s single asset indices.
Charles Hayter, CEO and Co-Founder of CryptoCompare, said:
We’re delighted that ETC Group has chosen our CCCAGG pricing and methodology to power its industry-standard suite of single asset indices. As the digital asset markets continue to grow, it is important that investors have access to the highest quality investment products, like those provided by ETC Group.
The partnership with CryptoCompare will enable investors to seamlessly and efficiently participate in the growth of the digital asset and blockchain sector through the design and issue of secure, institutional-grade digital asset products. Since launching in 2014, CryptoCompare’s premium digital asset data has become industry standard - helping to bring a wide range of innovative digital asset products to market.
Cryptocurrencies are highly volatile, and your capital is at risk.
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