Digital asset ETP specialist 21Shares has cross-listed six ETPs on Deutsche Börse Xetra, expanding the firm’s product offering on the German exchange to ten.
Hany Rashwan, co-Founder and CEO of 21Shares.
Five of the ETPs provide exposure to single cryptocurrencies including Solana, Polkadot, Cardano, Stellar, and Tezos, while a sixth offers access to a diversified basket of cryptocurrencies.
Each ETP uses full direct, so-called ‘physical’ replication with each share being 100% collateralized by an investment in the underlying digital asset.
The new listings complement 21Shares’ existing line-up which includes products providing exposure to Bitcoin, Ethereum and Bitcoin Cash, plus a product providing inverse exposure to Bitcoin.
Hany Rashwan, co-Founder and CEO of 21Shares, said: “We are pleased to expand crypto investment opportunities in Germany, as one of our key markets, where we are the first and only firm providing such a comprehensive product suite. This development underscores our commitment to helping investors safely access crypto assets, now and in the future.”
The $80m 21Shares Solana ETP (21XL GY) provides exposure to SOL, the native token underpinning the Solana blockchain and the seventh-largest cryptocurrency globally by total market capitalization. Solana is a highly functional open-source project providing decentralized finance solutions. Its main innovation is its proof-of-history consensus which leads to incredibly short validation times and allows the blockchain to handle thousands of transactions per second. The protocol is designed to have low transaction costs while still guaranteeing speed and scalability.
The $40m 21Shares Tezos ETP (21XZ GY) is the only ETP in Europe providing exposure to XTZ, the native token underpinning the Tezos blockchain and the thirty-first largest cryptocurrency globally. Tezos is a blockchain capable of modifying its own set of rules with minimal disruption to the network through an on-chain governance model. It runs on a Proof of Stake consensus model which relies on investors staking their own tokens to maintain the blockchain for which they are rewarded with passive income, a process known as ‘Baking’. The 21Shares Tezos ETP is exposed to the price performance of XTZ but also generates a yield due to Baking conducted by 21Shares on behalf of investors.
The $70m 21Shares Polkadot ETP (PDOT GY) provides exposure to DOT, the native token underpinning the Polkadot blockchain and the ninth-largest cryptocurrency globally. Polkadot is a blockchain of blockchains, allowing otherwise independent blockchains to communicate with each other, share security features, and transfer assets freely amongst themselves. DOT serves two vital roles in the system – it is designed to participate in governance decisions, including tabling proposals and voting, and it is used as an electronic payment system.
The $80m 21Shares Cardano ETP (DADA GY) is Europe’s only ETP to provide exposure to ADA, the native token underpinning the Cardano blockchain and the third-largest cryptocurrency globally. Cardano is a smart contract platform enabling developers to build decentralized applications. Unlike other leading smart contract platforms such as Ethereum, Cardano powers its transaction settlement using the proof-of-stake algorithm, a structure considered less risky in terms of the potential for miners to attack the network.
The $10m 21Shares Stellar Lumens ETP (XLME GY) is Europe’s only ETP providing exposure to XLM, the native token underpinning the Stellar blockchain and the twenty-fifth largest cryptocurrency globally. Stellar is a purpose-built blockchain enabling the transfer of any assets and allowing developers to build low-cost financial services on the platform.
The $150m 21Shares Crypto Basket Index ETP (21XH GY) provides market-cap-weighted exposure to the five largest cryptocurrencies ranked by 2050 market capitalization, calculated using current prices and a projected supply number for the year 2050.
Each of the ETPs comes with an expense ratio of 2.50% and is also listed on SIX Swiss Exchange.