Crypto ETP Issuer 21Shares Rolls Out Stellar And Cardano ETPs On Swiss SIX Exchange
Exchange-Traded Products (ETPs) issuer 21Shares is set to add ETPs for native tokens of Stellar and Cardano.
With this move, 21Shares aims to become the leading issuer of crypto ETPs.
21Shares Adds XLM And ADA To Its ETP Offering
21Shares AG announced that the Stellar XLM ETP (AXLM) and the Cardano ADA ETP (ADA) would be launched on the Swiss SIX Exchange on April 26, 2021. ADA 18.15% Cardano / USD ADAUSD $ 2.29
$0.4118.15% Volume 13.55 b Change $0.41 Open $2.29 Circulating 31.95 b Market Cap 73.04 b 4 d Positive Momentum for Ethereum Continues with Another $60 Million in Inflows: CoinShares Report 1 w Georgia’s Apex Bank Considers CBDC, Calls For Partnerships 1 w Bitcoin and Ether Record The Largest Inflows Since February: CoinShares Report XLM 7.13% Stellar / USD XLMUSD $ 0.73
$0.057.13% Volume 3.49 b Change $0.05 Open $0.73 Circulating 23.13 b Market Cap 16.78 b 1 d Samsung Updates Galaxy Smartphones With New Support for Crypto Hardware Wallets 4 d Tech Stocks Dragging Bitcoin, Ether, & Crypto's Down, But 'Fundamentals Still Strong' 1 w Market Experts View Cryptocurrencies As Major Risk, Fed Survey Reveals
According to the Switzerland-based investment product provider, the need to add additional single asset ETPs came after the firm removed the Bitcoin Cash and XRP ETPs from its 21Shares Crypto Basket Index ETP. This happened during its last rebalancing review.
The recent rise in the price of ADA and XLM informed 21Shares’ decision to add both digital assets to its suite of crypto ETPs.
Founded in 2014, the Stellar blockchain enables the transfer of any assets and its native token XLM facilitates payment on the platform. Cardano is a blockchain platform that enables developers to build decentralized applications.
Both the ADA and XLM products have a base fee of 2.5% per annum and will be made available on Germany’s Stuttgart and Dusseldorf multilateral trading facilities (MTFs).
Coinbase Custody is the main custodian for the assets underlying the AXLM ETP and Kingdom Trust for the AADA ETP.
Speaking on the launching of the assets, the CEO of 21Shares AG, Hany Rashwan, said the company also plans to add two more crypto ETPs this quarter. Rashwan said,
“As the leading crypto ETP issuer, Swiss and European institutional clients alike are asking us for simple and effective access to these new blockchain technologies. These new ETPs deliver what they asked for, and we expect to add another two new crypto ETPs this quarter on top of new listing venues.”
Earlier this year, 21Shares crossed $1 billion in digital assets under management (AUM) across its different crypto ETPs. The company disclosed that its AUM jumped from $500 million to $1 billion within two weeks, shortly after it launched its Polkadot ETP in February 2021. DOT 11.45% Polkadot / USD DOTUSD $ 48.79
$5.5911.45% Volume 7.67 b Change $5.59 Open $48.79 Circulating 938.14 m Market Cap 45.77 b 4 d Positive Momentum for Ethereum Continues with Another $60 Million in Inflows: CoinShares Report 1 w BoE Governor Andrew Bailey Says Crypto Investors Trading In A Bubble 1 w Binance Smart Chain (BSC) Is Feeling the Pressure of the Heightened Network Demand
Crypto ETPs Gaining Significant Attention
In the last few months, crypto ETPs have gained more attention largely due to the surge in crypto prices.
With about 12 diversified crypto-asset ETPs listed on regulated exchanges in the DACH region, 21Shares is one of the leading issuers with plans to expand its list of crypto ETPs offerings.
The company, formerly known as Amun, first reached industry-wide attention in October 2018 when it released its Bitcoin ETP product listed on the Swiss SIX Exchange.
The Zug firm has since expanded its offering to include products tracking many other large-cap cryptocurrencies and coin bundles, giving investors exposure to selected market segments.