Bitwise Lists Canton Network ETP on Deutsche Boerse Xetra

Bitwise has listed an exchange-traded product tied to the native token of the Canton Network on Germany's Deutsche Boerse Xetra, expanding traditional finance access to a blockchain asset built for institutional markets.

Crypto news outlet The Block reported on May 26 that Bitwise listed the Bitwise Canton ETP, trading under the ticker BWCC, on Deutsche Boerse Xetra. The product tracks the price of CC, the Canton Network's native token.

BWCC carries a 0.85% annual total expense ratio. It is designed to track the Kaiko CANTO Reference Rate LDNLF index and is fully backed by CC tokens held in cold storage.

Bitwise said the product was issued through Bitwise Europe, its Germany-based unit. Investors can buy and sell BWCC through standard brokerage accounts without directly using a crypto wallet. The firm described the listing as part of an expansion of its European crypto ETP lineup.

The Canton Network is a permissioned blockchain with privacy features. It was developed by Digital Asset, and participating institutions include Goldman Sachs, BNP Paribas, Deutsche Boerse, Microsoft, Moody's, S&P Global, Cboe Global Markets and Deloitte.

Bradley Duke, head of Bitwise Europe, called the Bitwise Canton ETP a timely addition to the firm's growing European crypto ETP range. He said the Canton Network was built for global financial markets and combines privacy, interoperability and programmability to meet institutional compliance requirements.

The European ETP listing follows the launch of a Canton Network-related product in the US. Earlier in May, 21Shares listed the 21Shares Canton Network ETF, trading under the ticker TCAN, on Nasdaq, offering direct investment exposure to CC.