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21Shares launches ETP offering exposure to Stacks

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21Shares AG has unveiled the 21Shares Stacks Staking ETP (ASTX), described as the world’s first ETP offering exposure to Stacks.

The firm writes that Stacks is a crypto asset protocol that unlocks the full potential of Bitcoin as an infrastructure for smart contracts and decentralized applications. Stacks’ core vision is to expand beyond Bitcoin’s principal use case as an emerging store-of-value asset and settlement infrastructure. It is one of the most promising crypto assets in the market today – currently valued at USD1.57 billion, a small fraction of equally promising assets – and the 21Shares Stacks Staking ETP is the first way for investors to access this asset without holding it directly.

“ASTX provides a unique opportunity for investors, as there are currently no other investment products providing exposure to Stacks on the market,” says Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares. “At 21Shares, we pride ourselves on continually bringing first-to-market products to investors in a safe and regulated manner. Our ETPs allow investors to access innovative and promising crypto assets through trusted investment vehicles.”

The 21Shares Stacks Staking ETP (ASTX) is available for trading on BX Swiss exchange.

In addition to this launch, 21Shares is also introducing staking on the 21Shares Ethereum Core ETP (CETH) and renaming it the 21Shares Ethereum Core Staking ETP to reflect this enhancement. These changes will be effective on April 12, following the Shanghai Upgrade – which will unlock the ability for Ethereum holders to withdraw staked Ethereum.

These product updates follow investors’ continued interest in the asset class in the early part of 2023, the firm writes, reporting that 21Shares closed out its second best January in company history this year, and continues to see net new assets despite market events. 

The firm says that in January 2023, the AUM for 21Shares’ Ethereum and Bitcoin ETPs (AETH and ABTC) both went above USD200 million, which means 21Shares now has three ETPs with over USD200 million in AUM. Year-to-date so far, 21Shares has recorded USD30 million in net new assets. 

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