XBT Provider

What XBT Provider does

XBT Provider is a product brand under CoinShares PLC (registered in Jersey, publicly listed with ISIN JE00BS6SC522) that issues and manages cryptocurrency exchange-traded products (ETPs). Founded in 2014 as a pioneer in European digital asset management, XBT Provider's flagship offerings include Bitcoin Tracker One, Bitcoin Tracker Euro, and Ethereum Tracker One — spot-backed products providing regulated, exchange-traded exposure to digital assets. The platform has expanded beyond passive exposure into staking-enabled ETPs for Ethereum, Solana, and Sei, plus adjacent capabilities such as actively managed systematic strategies, indices spanning equities/crypto/gold, and capital-markets services for the CoinShares Group.

Technically, XBT Provider's products are physical-backed ETPs — assets are held in institutional-grade custody rather than via derivatives — and are listed on regulated venues. Following the SEC's May 23, 2024 approval of spot Ethereum ETFs, the Ethereum Tracker One became tradable on Nasdaq, CBOE, and NYSE, alongside European exchange listings. The Ethereum Staking ETP embeds transparent staking-reward economics with 0% management fees.

The business model is a recurring management-fee structure on assets under management across the ETP product line. Distribution relies entirely on traditional brokerage channels — investors access exposure via standard broker accounts on regulated exchanges, mirroring how they would buy ETFs or stocks. Both retail and institutional investors constitute the customer base, with the parent CoinShares group positioned as the leading European asset manager in the digital-asset category. Pricing for XBT Provider's products is not publicly disclosed; however, the 0% management fee on the Ethereum Staking ETP signals that yield-based monetization (via staking rewards) is being deliberately substituted for traditional management fees on at least one flagship product.

Name

XBT Provider

Legal name

CoinShares PLC

Website

https://xbtprovider.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

XBT Provider, operating under CoinShares PLC, is a European crypto ETP issuer providing regulated, physically backed exchange-traded products for Bitcoin, Ethereum, Solana, and Sei to institutional and retail investors via traditional brokerage channels.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange-Traded Products (ETPs)

NAICS

Other Financial Vehicles (52599), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC)

akta.pro secondary industry

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)

Keywords

• Cryptocurrency ETPs
• Digital asset management
• Exchange-traded products
• Crypto investment vehicles
• Asset management services

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Crypto ETP Management Fees: CoinShares generates revenue through management fees charged on cryptocurrency ETPs including XBT Provider products. The firm offers institutional-grade custody combined with transparent product structures for long-term investors.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

XBT Provider manages and issues cryptocurrency exchange-traded products (ETPs) that give investors regulated access to digital assets such as Bitcoin and Ethereum through traditional brokerage accounts. Operating as a product brand under CoinShares PLC, it offers physical-backed ETPs including the Bitcoin Tracker One, Ethereum Tracker One, and staking-enabled ETPs for Ethereum, Solana, and Sei, all structured with institutional-grade custody.

Product overview

XBT Provider, operating under CoinShares, is a digital asset management platform offering a suite of crypto exchange-traded products (ETPs) and related investment services. The core offerings include the XBT Provider Ethereum Tracker One and CoinShares-branded staking ETPs for Ethereum, Solana, and Sei, providing regulated physical exposure to digital assets. The platform architecture consists of Crypto ETPs as the primary access vehicle, supplemented by Active Strategies (quantitative trading strategies) and Indices (market benchmarks spanning equities, crypto, and gold). Capital Markets services support internal operations and treasury management. All products are designed for integration with traditional brokerage infrastructure, allowing investment via standard broker accounts.

Differentiator

Problem solved

Functional benefit

Brands

• XBT Provider Ethereum Tracker One: A leading Ethereum ETF ETP product providing exposure to Ethereum through a regulated exchange-traded product.

Products and services

• XBT Provider Bitcoin Tracker One A regulated Bitcoin exchange-traded product providing investors with transparent, exchange-traded exposure to Bitcoin via traditional brokerage accounts, backed by institutional-grade custody.
• XBT Provider Ethereum Tracker One A spot Ethereum exchange-traded product offering institutional-grade custody and transparent exposure to Ethereum, listed among leading global Ethereum ETFs.
• CoinShares Ethereum Staking ETP A regulated physical ETP providing access to Ethereum with institutional-grade custody, transparent staking rewards, and 0% management fees.
• CoinShares Solana Staking ETP A regulated, exchange-traded product providing access to Solana blockchain through a staking-enabled vehicle, offering exposure to a high-performance blockchain with superior scalability, speed, and cost efficiency.
• CoinShares Sei Staking ETP A regulated, exchange-traded product providing access to Sei blockchain, purpose-built for decentralized finance and gaming applications.
• Capital Markets Services Market-leading trading technology and support services along with treasury management function provided to the CoinShares Group's main business lines.

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• VanEck: VanEck is one of the eight issuers approved to launch a spot Ethereum ETF in May 2024 and operates several European crypto ETPs. Directly competes with XBT Provider Ethereum Tracker One across both US and European markets.
• Grayscale Investments: Grayscale is the largest US crypto asset manager offering spot Bitcoin and Ethereum Trusts/ETFs. XBT Provider competes directly with Grayscale Ethereum Trust/ETF for institutional AUM allocated to spot Ethereum exposure.
• ETC Group: ETC Group operates a focused suite of institutional-grade crypto ETPs in Europe (Bitcoin, Ethereum, and altcoin ETPs). Closest European competitor in size, structure, and distribution model to XBT Provider's offerings.
• 21Shares: 21Shares is a leading European crypto ETP issuer offering a broad suite of physically-backed and staking products across Bitcoin, Ethereum, Solana, and other chains — directly overlapping with XBT Provider's product line and European institutional customer base.
• Hashdex: Hashdex is a crypto asset manager that received SEC approval for a spot Ethereum ETF in May 2024 and operates multi-asset crypto products. Overlaps with XBT Provider's regulated, broker-distributed ETP model.
• Invesco Galaxy: Invesco and Galaxy jointly launched the Invesco Galaxy Ethereum ETF among the eight SEC-approved funds. Operates in the same regulated ETP/ETF category with comparable institutional and broker-distribution channels as XBT Provider.
• Bitwise Asset Management: Bitwise launched a spot Ethereum ETF among the eight SEC-approved funds and runs a leading suite of crypto investment products across the US and Europe. Directly comparable to XBT Provider's product model and customer segments.

Broad incumbents

• WisdomTree: WisdomTree is a broad incumbent asset manager with a significant European ETP franchise that includes crypto-physical ETPs. Overlaps with XBT Provider in regulated crypto ETP offerings and European exchange distribution.
• Fidelity Investments: Fidelity is a broad incumbent that launched the Fidelity Ethereum Fund (one of the eight SEC-approved spot Ethereum ETFs). Offers Ethereum institutional exposure through a regulated ETP/ETF structure that overlaps directly with XBT Provider Ethereum Tracker One.
• BlackRock iShares: BlackRock launched the iShares Ethereum Trust as one of the eight SEC-approved spot Ethereum ETFs in May 2024. As the world's largest asset manager, BlackRock's distribution reach dwarfs XBT Provider's institutional footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/xbtprovider
• LinkedInlinkedin.com/company/xbt-provider

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about XBT Provider