Crypto ETP issuer 21Shares US Advisers LLC, an affiliated entity of 21Shares AG, has launched in the US market with two private funds, designed to provide accredited investors with broad exposure to both large-cap and mid-cap crypto assets.
The two index funds launched today – 21Shares Crypto Basket 10 Index Fund and 21Shares Crypto Mid-Cap Index Fund – will seek to track the performance of the “Vinter 21Shares Crypto Basket 10 US Index” and “Vinter 21Shares Crypto Mid-Cap US Index,” respectively.
Composed of several of the world’s largest cryptocurrencies by market capitalisation, both funds will be rebalanced and reconstituted quarterly to reflect the dynamic nature of the crypto space. As of today, accredited US investors can invest in the funds.
“21Shares has built a globally-recognised portfolio of crypto products over the past four years. Today, we’re proud to expand access to our reputable and proven brand with our launch into the U.S. market,” says Hany Rashwan, CEO and co-founder, 21Shares. “Our mission globally is to build bridges into the crypto world and the two funds launched today are pivotal building blocks for US investors eager to introduce crypto to their portfolio or are looking for ways to diversify their cryptocurrency holdings.”
The 21Shares Crypto Basket 10 Index Fund tracks the prices of the top 10 cryptocurrencies based on market capitalisation available on US exchanges. Whereas the 21Shares Crypto Basket 10 Index Fund features a large allocation to the best-known and most established cryptocurrencies – Bitcoin and Ethereum – the 21Shares Mid-Cap Index Fund offers diversified exposure to the next tier of emerging cryptos, those ranked three through 10 in market capitalisation.
“Historically, the cumulative return rate of the top dozen cryptocurrencies has vastly outperformed traditional indexes like the S&P 500, Dow Jones Industrial Average, or Nasdaq Composite,” says Arthur Krause, Director of Product at 21Shares. “Our two new index funds enable accredited investors to participate in cryptocurrencies without assuming the responsibility of managing custodial arrangements, tracking private keys and passwords, or being susceptible to hacking or security breaches.”
The launch of these two products follows 21Shares’ recent rollouts of the first bitcoin and Ethereum ETFs in Australia and the bitcoin and gold ETP on the SIX Swiss Exchange.