Bitwise Launches Canton Network-Tracking ETP on Deutsche Boerse Xetra

Bitwise, a crypto-focused asset manager, is launching a European exchange-traded product that tracks the native token of Canton Network, an institutional blockchain platform.

The company listed the Bitwise Canton ETP on Deutsche Boerse Xetra in Germany on May 27, according to a GlobeNewswire release. The product trades under the ticker BWCC and is designed to track the price of Canton Network's CC token.

Canton Network is a privacy-focused blockchain platform built for global capital markets. Financial institutions and technology companies including Goldman Sachs, BNP Paribas, Deutsche Boerse and Broadridge participated in its development. It is designed to allow financial firms to issue, trade and settle digital assets without publicly disclosing transaction details.

Unlike public blockchains such as Bitcoin and Ethereum, Canton Network allows only the information required by transaction counterparties to be verified and recorded, Bitwise said. The firm said that design is focused on meeting the confidentiality and compliance standards required by regulators.

The CC token is the core asset used for network operations and governance.

Bradley Duke, head of Bitwise Europe, described Canton Network as a blockchain platform built for global financial markets that combines privacy, interoperability and programmability. As tokenization of financial assets expands, Canton is establishing itself as a meaningful infrastructure player in digital finance, he added.