Bitwise continues to expand its European crypto investment product line with the launch of BWCC, an exchange-traded product on Deutsche Börse Xetra that tracks Canton Network's native token CC. This product allows investors to gain CC exposure through a traditional brokerage account without needing to create their own crypto wallet.
The product is listed and traded in Germany.
Bitwise stated that BWCC began trading on Tuesday, issued in Germany by Bitwise Europe GmbH. The product tracks the Kaiko CANTO Reference Rate LDNLF index and is fully backed by CC tokens in cold storage.
Public information shows that this ETP has an annual fee rate of 0.85%. For traditional market investors, the significance of this type of structure is that the allocation path is closer to common products such as stocks and ETFs, and the compliance threshold is also clearer.
Canton focuses on institutional-grade blockchain applications.
Launched in 2023 by fintech company Digital Asset, Canton Network is positioned as a permissioned blockchain for the financial market. Unlike public blockchains that are open to the public, Canton places greater emphasis on privacy, interoperability, and programmability, and is more closely aligned with the usage needs of banks and regulated financial institutions.
Institutions that have participated in the network include Goldman Sachs, BNP Paribas, Deutsche Börse, Microsoft, Moody's, S&P Global, Cboe Global Markets, and Deloitte. Bradley Duke, head of Bitwise's European operations, also stated that Canton's design is more suitable for adoption by institutions in the global financial market.
Product launch failed to reverse the short-term downward trend.
Despite the new product launch being seen as a further expansion of Canton's investment tools, CC's performance in the short-term market remains weak. At the time of publication, CC was priced at approximately $0.1606, down 3.1% in the past 24 hours.
Looking at the intraday price movement, CC's price has been slowly declining overall. Market data also shows that the token's market capitalization remains above $6.2 billion, indicating that despite the short-term pullback, its overall size remains at a relatively high level.
Previously, 21Shares had also launched an ETF related to Canton in the US, indicating that institutional interest in this network and its related products continues to grow. However, this expansion of such products has not yet directly translated into short-term price support for CC.
