Leading Exchange Traded Product (ETP) provider 21Shares has announced the listing of the largest mid-cap cryptocurrency ETP on the Swiss stock exchange, SIX.
Announcing the development in a press release today, 21Shares noted that the new product, which tracks the investment performance of selected cryptocurrencies, will see the total number of its crypto ETPs surge to 21.
“This is an important milestone in our product roadmap, following the launch of the world’s first crypto ETP on the regulated SIX Swiss Exchange in Switzerland in 2018,” Hany Rashwan, 21Shares CEO, said.
According to the announcement, the new ETP will track the mid-cap investment result of the top ten cryptocurrencies, with exclusion to the two largest coins by market capitalization – Bitcoin (BTC) and Ethereum (ETH).
The investment product will track the price movement of Binance Coin (BNB), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), LItecoin (LTC), Polygon (POLY), and Bitcoin Cash (BCH).
Notably, investors have been too focussed on BTC and ETH, which has reduced the performance and contribution of other altcoins in the top ten spots.
Through the investment product, crypto investors will be given diversified exposure to several mid-cap altcoins in the market.
“Today, the index includes assets like BNB, ADA, and SOL, which outperformed BTC and ETH during 2021,” Jacob Lindberg, CEO and Co-Founder of regulated cryptocurrency index provider Vinter, said.
21Shares Massive Growth Since Inception
Founded in 2018, 21Shares has become a leading provider of cryptocurrency exchange-traded products. The firm has experienced significant growth over the years, with its assets under management (AUM) skyrocketing from $100 million to $2 billion in just one year, which is led by investments in Solana ETP.
At the time of writing this line, 21Shares manages nearly $3 billion in AUM in 21 cryptocurrencies ETPs. The various ETPs are listed across nine regulated exchanges, including SIX, with plans on the way for more expansion.
Last year, Coinfomania reported that 21Shares bitcoin ETP was listed on Boerse Stuttgart, the second-largest stock exchange in Germany.
