The cryptocurrency exchange-traded merchandise (ETP) supplier 21shares AG, previously often called Amun, has introduced the launch of two new crypto asset ETPs on Deutsche Boerse’s Xetra. The 21shares ETPs will leverage the cryptocurrencies ethereum beneath the ticker “21XE,” and bitcoin money beneath the ticker “21XC.”
Bitcoin Money and Ethereum Trade Traded Merchandise Listed on Xetra
Following the agency’s two bitcoin (BTC) exchange-traded merchandise listed final yr, 21shares AG is launching two new ETPs for the favored crypto-assets bitcoin money (BCH) and ethereum (ETH). Ethereum is at the moment the second-largest blockchain, by way of market valuation, whereas bitcoin money holds the eleventh place. On February 3, 2021, the Zurich-based funding supplier launched an ETP for the crypto asset polkadot (DOT) on the Swiss trade SIX.
The brand new bitcoin money (BCH) ETP will probably be known as “21XC” and the ethereum (ETH) product will probably be known as “21XE.” Each debuted on the Swiss inventory market in mid-2019, and each property are “absolutely collateralised utilizing Coinbase as unbiased regulated institutional-grade custodian,” 21shares notes. Collectively with all of the merchandise beneath 21share’s hood, the corporate property beneath administration (AUM) is $1 billion as of February 2021.
21shares to Fill the Void of Institutional-Grade Merchandise for Different Massive-Quantity Crypto Property
Hany Rashwan, the CEO of 21shares mentioned that the corporate has been on the forefront of the crypto ETP area for the reason that agency’s introduction. “Whereas different issuers proceed to comply with our steps in itemizing a Bitcoin ETP on a inventory trade, we had time to construct the infrastructure and actively conduct regulatory lobbying for different progressive crypto property and issuances,” Rashwan detailed.
Rashwan additional added:
For this reason we had been the primary to checklist an ether and bitcoin money ETP on the Swiss inventory trade and we at the moment are leveraging our experience to supply traders within the DACH area and past with the identical institutional attain, security, and cost-effective methods to realize publicity to crypto-assets. After the immensely profitable launch of the primary Polkadot ETP only a month in the past, we’re engaged on a number of extra launches within the second and third quarter.
21shares additionally famous that for the reason that outbreak of the coronavirus in March 2020, bitcoin (BTC) has seen a large improve in worth. It additionally emphasised the institutional curiosity in crypto property with companies like Paypal, Microstrategy, and Tesla leaping on the bandwagon. 21shares highlighted that monetary autos for BTC are already broadly obtainable, and the corporate acknowledges that there’s a requirement for merchandise devoted to various crypto property with massive market caps as nicely.
“Whereas there may be already an abundance of Bitcoin monetary merchandise in the marketplace, there’s a important lack of institutional-grade merchandise for different large-volume crypto property,” 21shares mentioned.
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