Aniket Pujari
21Shares has listed three of its crypto-backed ETPs on the Nasdaq Stockholm exchange, further expanding its reach into European markets.
According to an official press release, the exchange-traded products issuer has added three new ETPs to the Nasdaq Stockholm exchange. So far, the company already has products listed on 11 major exchanges, including Nasdaq, Euronext Amsterdam, and SIX Swiss Exchange.
One of the recently listed products on Nasdaq Stockholm is 21Shares Bitcoin Core ETP or CBTC. The product provides users with exposure to an investment instrument that is fully-backed by Bitcoin (BTC). Not only that, the product also offers a management fee of only 0.21%. The firm claimed that CBTC is known widely across Europe as one of the “most cost-effective Bitcoin ETPs.”
Next, the firm has listed its Solana Staking ETP, ASOL. According to the notice, ASOL is the largest Solana (SOL) staking ETP in the region at press time. The product grants investors looking for exposure to Solana a chance to accumulate yields from its returns while also tapping into advancements in blockchain technology. Through ASOL, investors can explore sectors such as gaming, finance, and identity protection in the blockchain.
Lastly, the firm has made 21Shares XRP ETP or AXRP available on Nasdaq Stockholm. Similar to the previous two ETPs, AXRP is fully-backed by XRP (XRP). Therefore, it offers investors exposure to XRP without holding it directly. Not only that, traders can explore its potential for facilitating cross-border payments. XRP is known for its ability to bridge currency for cross-border payments.
Head of Financial Product Development, Mandy Chiu, stated that institutional adoption for crypto-backed ETPs is rapidly growing across Europe, as more and more countries in the region are seeking clearer regulatory guidelines.
“This year represents a breakthrough moment for crypto in Europe, with increasing confidence driven by the MiCA regulatory framework and a significant rise in institutional participation,” said Chiu.
Echoing Chiu’s sentiments, Head of ETF and ETP, European Markets at Nasdaq, Helena Wedin confirms that there is a growing demand for ETPs in the European market. This leaves ETP issuers with an opportunity to fill the market gap.
“As the market for crypto ETPs continues to expand, we are pleased to provide investors with more locally listed, cost-efficient, and innovative products,” said Wedin.
Earlier this month, Nasdaq submitted a filing for 21Shares’ Polkadot exchange-traded fund to the U.S. Securities and Exchange Commission. If approved, the Polkadot ETF would be listed on Nasdaq, providing investors exposure to DOT (DOT).
21Shares is one of the world’s first and largest issuers of crypto exchange-traded products. It launched its first physically backed crypto ETP, HODL, on the SIX Swiss Exchange in 2018 and has issued more than 30 ETPs since then. The firm currently holds over $7.5 billion in assets under management.
