Crypto ETP issuer 21Shares AG has announced the listing of three additional crypto ETPs on the SIX Swiss Exchange.
The new product launch brings the total number of crypto ETP products issued to 20 on the Swiss market and a total of 80 listings on Swiss and European markets.
The 21Shares Polygon ETP, Ticker: POLY (ISIN CH1129538448) tracks the investment results of Polygon an Ethereum scaling platform onboarding millions to Web3. The firm writes that hosting more than 3,000 applications, Polygon has become the most popular full-stack Ethereum scaling solution due to its high speed, low transaction cost, and network composability.
The 21Shares Avalanche ETP, Ticker: AVAX (ISIN: CH1135202088) tracks the investment results of Avalanche, an Ethereum rival, which aims to unseat the most popular blockchain for smart contracts. Its key strength is the higher transaction output of up to 6,500 transactions per second, while not compromising scalability.
The 21Shares ETP Algorand, Ticker: ALGO (ISIN: CH1146882316) tracks the investment results of Algorand, a layer one blockchain solution supporting the creation of decentralised applications. Algorand was founded by Silvio Micali, Professor at the MIT, and a recipient of the Turing Award in computer science, often referred to as the Nobel Prize of computing.
Hany Rashwan, co-founder, and CEO of 21Shares, says, “Adding Polygon, Avalanche and Algorand to our already expansive suite of single-asset ETPs delivers another simple and easy option for investors to enter the crypto asset class, and allows us to continue fulfilling our mission to build the simplest and most transparent way to access this asset class.”
Michael Lie, Head of Digital Asset Trading at Flow Traders, says: “We are excited to be supporting the launch of the new ETP and deepening our successful partnership with 21Shares. As the number one crypto ETP liquidity provider, Flow Traders is at the forefront of enabling this fast-growing crypto asset class. This listing is another clear indication of the increasing expectations of both investors and issuers striving for more innovative products.”
All 21Shares ETP are accessible to investors using a bank or broker that has access to the SIX Swiss Exchange – with no additional special set-up needed. The ETPs are fully backed by the underlying crypto asset and is held in institutional-grade security and custody solution, using state-of-the-art cold storage and safety measures, including multiple private keys, whitelisting, and audit trails.
As of November 2021, 21Shares writes that it manages almost USD3 billion in 20 cryptocurrency ETPs and 80 listings, including two new basket ETPs, featuring the eligible top five and top 10 crypto assets. 21Shares’ crypto ETP products are listed on eight regulated European and Swiss trading exchanges.