Bitwise listed a new exchange-traded product tied to the native token of Canton Network (CC), a privacy-enabled permissioned blockchain developed with participation from institutions including Goldman Sachs, BNP Paribas, and Deutsche Börse.

Dubbed the Bitwise Canton ETP (BWCC), the product began trading on Deutsche Börse Xetra on Tuesday with a total expense ratio of 0.85% per annum. It seeks to track the Kaiko CANTO Reference Rate LDNLF index and is fully backed by CC tokens held in cold storage, the asset manager said in a statement. 

According to the statement, BWCC is issued by Bitwise Europe GmbH in Germany and can be bought or sold through traditional brokerage accounts without requiring investors to use a crypto wallet. Bitwise said the launch forms part of its broader European crypto ETP suite.

“The Bitwise Canton ETP is a timely addition to our growing suite of European crypto ETPs,” Bradley Duke, Managing Director and Head of Europe at Bitwise, said. “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.”

Launched in 2023, Canton Network was developed by Digital Asset, a financial technology firm co-founded by DRW's Don Wilson. Participating institutions include Goldman Sachs, BNP Paribas, Deutsche Börse, Microsoft, Moody's, S&P Global, Cboe Global Markets, and Deloitte. 

The European ETP launch follows the debut of the first U.S. ETF tied to the same asset. 21Shares listed the 21Shares Canton Network ETF (TCAN) on Nasdaq earlier this month, providing direct exposure to CC. 

Per The Block’s CC price page, Canton’s native token traded at $0.16 on Tuesday, down 1.4% over the past 24 hours. The token carries a market capitalization of $6.3 billion.