Societe Generale Partners with 21Shares for Crypto ETP Liquidity

Societe Generale, ranked as the 19th largest banking group globally by assets, is teaming up with 21Shares, a cryptocurrency asset management firm, to enhance liquidity for crypto-based exchange-traded products (ETPs) in Europe.

Through this collaboration, Societe Generale will offer liquidity and market services specifically targeting German and Eastern European investors interested in 21Shares’ cryptocurrency ETPs.

This partnership includes providing over-the-counter (OTC) liquidity to facilitate trading of various Bitcoin (BTC) and Ether (ETH) ETPs, such as ABTC, CBTC, AETH, and Ceth, all aimed at broadening the market reach for crypto investing. The announcement was made on Wednesday.

The involvement of banks like Societe Generale is expected to bolster trade executions, boost liquidity, and streamline access to crypto investment options for institutional investors.

“We are excited to share that Alistair Byas-Perry, who is the global head of 21Shares and oversees EMEA investments, expressed his enthusiasm for this development,” stated Byas-Perry.

“By injecting liquidity into Bitcoin and Ethereum ETPs, Societe Generale is helping to fulfill its mission of offering the most efficient and dependable solutions in the crypto investment space,” he added.

As of 2023, Societe Generale holds more than $1.7 trillion in total assets, according to S&P Global Data.

Continuing the Drive for Blockchain at Societe Generale

Martina Schroettle, responsible for ETF sales at Societe Generale in the UK, highlighted the significance of this partnership. “This represents a crucial step in our dedication to providing innovative liquidity solutions while expanding access to various ETFs and ETPs for our clients,” she noted in the announcement.

The bank is actively pursuing more blockchain-related ventures.

In a related initiative, in September 2024, Societe Generale-Forge, a blockchain subsidiary, joined forces with Bitpanda to implement the euro-backed stablecoin, Eur Coinververible (Eurcv).

This collaboration comes ahead of the full rollout of the European Union’s Crypto-Assets Regulation (MICA) framework, set to be the first comprehensive regulatory approach for the crypto industry, effective from December 30, 2024.

Cointelegraph reached out to Societe Generale for insights on its broader blockchain initiatives but had not received a response by the time of publication.