Asset management firm 21Shares announced today that it has listed three of its Exchange-Traded Products (ETPs) on Nasdaq Stockholm. This development further strengthens the asset manager’s commitment to providing institutional and individual investors with varying crypto investment vehicles to suit their interests.
Seamless and Cost-Effective Structure
The new products include 21Shares Bitcoin Core ETP (CBTC) is backed by BTC. CBTC provides customers access to the largest cryptocurrency by market capitalization with a cost-effective management fee of 0.21%.
21Shares also listed AXRP, fully backed by the fifth largest digital coin, XRP. Investors can leverage XRP’s simple and regulated spot in the crypto space to provide cross-border payments.
The third ETP listed by the asset manager is the 21Shares Solana Staking (ASOL) which is 100% backed by SOL, a popular blockchain network for gaming, identity protection, and finance. ASOL investors will gain access to SOL staking and earn yields that are reinvested into the ETP for enhanced performance.
With over $7.5 billion in assets under management and a listing on over 11 exchanges including Nasdaq, 21Shares has cemented its stance to cater to the growing demand for crypto assets adoption in Europe.
Europe Embraces ETPs
Despite the volatility and criticism bordering the industry, the European market has embraced the crypto space via ETPs and other crypto products, indicating that the EU market is ripe and ready for growth. Meanwhile, the United States is still lingering on approving crypto exchange-traded products.
The race for ETP approval in Europe follows the recent clearer regulatory framework by European watchdogs like the Market in Crypto Assets regulators. This increasingly clear regulatory landscape is making it easier for industry players and market makers to key into the European market.
Bitwise, an asset management firm, recently listed a Solana staking exchange-traded product in Europe to provide retail and institutional investors seamless exposure to SOL. Meanwhile, the firm is still waiting for regulatory approval for a Solana ETF in the U.S.
