Bitwise Lists Canton Network ETP on Deutsche Börse Xetra

Bitwise Europe GmbH began trading the Bitwise Canton ETP (ticker BWCC) on Deutsche Börse Xetra on Tuesday. The exchange-traded product tracks the Kaiko CANTO Reference Rate LDNLF and carries a total expense ratio of 0.85% per year.

The ETP is fully backed by Canton Network’s native CC tokens held in cold storage. Investors can buy or sell BWCC through standard brokerage accounts without needing a crypto wallet.

Bitwise stated the listing is part of its expansion of crypto exchange-traded products in Europe and that the structure is intended to provide regulated, broker-accessible exposure to the CC token while keeping custody of the underlying assets offline.

Bradley Duke, Bitwise’s managing director and head of Europe, commented: “Canton Network stands apart as a blockchain platform built from the ground up for global financial markets, combining privacy, interoperability, and programmability in a way that is specifically designed to meet institutional compliance requirements.”

Canton Network launched in 2023 and was developed by Digital Asset. The permissioned blockchain includes participation from financial and technology firms including Goldman Sachs, BNP Paribas, Deutsche Börse, Microsoft, Moody’s, S&P Global, Cboe Global Markets and Deloitte. The network’s governance and technical design focus on meeting compliance and operational needs of regulated markets.

The European ETP follows a U.S. listing of a Canton-linked product earlier this month, when 21Shares listed the 21Shares Canton Network ETF (TCAN) on Nasdaq.

On Tuesday, Canton’s native token traded near $0.16, down about 1.4% over the prior 24 hours. The token’s market capitalization was around $6.3 billion.