The cryptocurrency exchange-traded products (ETP) provider 21shares AG, formerly known as Amun, has announced the launch of two new crypto asset ETPs on Deutsche Boerseâ€™s Xetra. The 21shares ETPs will leverage the cryptocurrencies ethereum under the ticker â€œ21XE,â€ and bitcoin cash under the ticker â€œ21XC.â€
Bitcoin Cash and Ethereum Exchange Traded Products Listed on Xetra
Following the firmâ€™s two bitcoin (BTC) exchange-traded products listed last year, 21shares AG is launching two new ETPs for the popular crypto-assets bitcoin cash (BCH) and ethereum (ETH). Ethereum is currently the second-largest blockchain, in terms of market valuation, while bitcoin cash holds the eleventh position. On February 3, 2021, the Zurich-based investment provider launched an ETP for the crypto asset polkadot (DOT) on the Swiss exchange SIX.
The new bitcoin cash (BCH) ETP will be called â€œ21XCâ€ and the ethereum (ETH) product will be called â€œ21XE.â€ Both debuted on the Swiss stock market in mid-2019, and both assets are â€œfully collateralised using Coinbase as independent regulated institutional-grade custodian,â€ 21shares notes. Collectively with all the products under 21shareâ€™s hood, the company assets under management (AUM) is $1 billion as of February 2021.
21shares to Fill the Void of Institutional-Grade Products for Other Large-Volume Crypto Assets
Hany Rashwan, the CEO of 21shares said that the company has been at the forefront of the crypto ETP space since the firmâ€™s introduction. â€œWhile other issuers continue to follow our steps in listing a Bitcoin ETP on a stock exchange, we had time to build the infrastructure and actively conduct regulatory lobbying for other innovative crypto assets and issuances,â€ Rashwan detailed.
Rashwan further added:
21shares also noted that since the outbreak of the coronavirus in March 2020, bitcoin (BTC) has seen a massive increase in value. It also emphasized the institutional interest in crypto assets with firms like Paypal, Microstrategy, and Tesla jumping on the bandwagon. 21shares highlighted that financial vehicles for BTC are already widely available, and the company recognizes that thereâ€™s a demand for products dedicated to alternative crypto assets with large market caps as well.
â€œWhile there is already an abundance of Bitcoin financial products on the market, there is a significant lack of institutional-grade products for other large-volume crypto assets,â€ 21shares said.
What do you think about 21shares launching ether and bitcoin cash ETPs on Deutsche Boerseâ€™s Xetra? Let us know what you think about this subject in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.