A new tool, the DA20 crypto index, is available on Euronext Paris
ETC Group has launched DA20, the world’s first crypto ETP index, on Euronext Paris. The index is based on the MSCI indicator, considered a benchmark. ETC is a provider of securities backed by crypto assets. The listing on the Paris exchange came shortly after the DA20 became available on the German platform Deutsche Börse XETRA.
Benefits of the ETP index
According to ETC, this index can track the performance of 20 digital currencies, including market leaders Bitcoin and Ethereum. DA20 provides access to digital asset transactions for both retail and institutional investors. In addition, working with the index includes transaction tracking and technical process support. Benefits of DA20:
– is an excellent passive investment vehicle;
– provides efficient portfolio diversification for the crypto asset market;
– the index covers approximately 85% of the digital currency sector;
– requires a standard bank or brokerage account.
The crypto index is a development of ETC based on the Morgan Stanley indicator. DA20 does not work with stablecoins, meme coins or privacy tokens.
ETC uses the same rules for the new index as its other products. The index is physically asset-backed. The currencies underlying the DA20 are held in cold storage to match the composition and weighting of the indicator. Meanwhile, market participants and market makers will maintain liquidity.
In the opinion of ETC representatives, the placement of DA20 on Euronext Paris will attract many investors. Thus, the new instrument will be able to appreciate people interested in long-term activity in the crypto market.
Overview of Euronext Paris
Before 2000, Euronext Paris used the name Paris Stock Exchange. It later merged with the Amsterdam and Brussels platforms. The structure now also includes the Portuguese exchange. The merger allowed the company to become the second in the region’s financial sector. The leadership belongs to the platform in London.
Euronext provides services for trading shares and derivatives, clearing and financial analysis.
All exchange offices, including the Paris office, operate within a single ecosystem, LIFFECONNECT. Transactions form the basis of the Euronext 100 stock index. This index is one of the most critical indicators for assessing the financial situation in Europe.
In 2007, Euronext and the New York Stock Exchange completed a merger. The result was the creation of NYSE Euronext. IntercontinentalExchange, a global network operating in the US, Canada and Europe, acquired Euronext six years later. A year later, Euronext went public, selling 60% of its shares.
