TL;DR:
- Bitwise launched the Canton ETP (BWCC) on Deutsche Börse Xetra, with a total expense ratio of 0.85% per year.
- The product offers exposure to Canton Network’s CC token, a permissioned blockchain backed by Goldman Sachs and BNP Paribas.
- The CC token trades at around $0.16, with a market capitalization of $6.3 billion, and recorded a 1.4% decline over 24 hours.
Bitwise listed the Bitwise Canton ETP (BWCC) on Deutsche Börse Xetra, the first exchange-traded product in Europe to offer direct exposure to Canton Network’s native CC token.
The instrument operates with a total expense ratio of 0.85% per year and seeks to replicate the Kaiko CANTO Reference Rate LDNLF index. The product is issued by Bitwise Europe GmbH in Germany and is fully backed by CC tokens held in cold storage.
Bitwise Offers ETPs Through Brokerage Accounts
One of its most important features is that investors can access it through traditional brokerage accounts, without needing to manage a cryptocurrency wallet. Bitwise presented this launch as part of the expansion of its European crypto ETP suite.
Bradley Duke, Managing Director and Head of Europe at Bitwise, noted that Canton Network stands out as a blockchain platform built from the ground up for global financial markets, with a design oriented toward meeting institutional compliance requirements through privacy, interoperability, and programmability.
The Institutional Weight of Canton Network
Canton Network was developed by Digital Asset, a financial technology firm co-founded by Don Wilson of DRW and launched in 2023. Among the institutions participating in the network are Goldman Sachs, BNP Paribas, Deutsche Börse, Microsoft, Moody’s, S&P Global, Cboe Global Markets, and Deloitte, which grants it an unusual institutional backing within the permissioned blockchain ecosystem.
Just a few weeks ago, 21Shares listed the 21Shares Canton Network ETF (TCAN) on Nasdaq, the first ETF in the United States with direct exposure to the CC token. The sequence of launches on both sides of the Atlantic shows that asset managers are seeking to offer a regulated pathway into blockchains oriented toward the institutional financial sector.
At the time of the BWCC launch, the CC token was trading at $0.16, recording a 1.4% decline over the past 24 hours. Its market capitalization stood at $6.3 billion.
