21Shares Launches Four New ETPs Focused on AI Tokens
November 27, 2024
Swiss wealth manager 21Shares has introduced four new cryptocurrency exchange-traded products in Europe, expanding its range of investment options in digital assets.
Recent additions focus on AI and decentralized computing projects such as Pyth Network, Ondo, Render, and NEAR Protocol.
Wider focus on AI-related cryptocurrencies
The asset manager is seeing increased demand from institutional investors for next-generation decentralized technologies. The four tokens represent the company’s expanded foray into four distinct sectors: pricing oracles, asset segmentation, decentralized computing, and artificial intelligence.
According to the announcement, investors in the NEAR ETP will be able to reinvest staking rewards directly into the product. NEAR’s proof-of-stake blockchain model supports the security of the network through token staking, generating returns for participants.
The new ETPs will be available for trading on exchanges in cities like Amsterdam and Paris. The company has been constantly improving its offering of crypto ETPs across Europe.
Earlier this week, 21Shares upgraded its Ethereum Core ETP to include staking capabilities. The product now operates under the name Ethereum Core Staking ETP and trades under the symbol ETHC.
“The 21Shares NEAR Protocol Staking ETP provides investors with a regulated and transparent way to gain exposure to one of the most scalable smart contract platforms, designed to simplify the complexity of crypto infrastructure while pushing the boundaries of decentralized AI integration,” the company wrote in its press release.
This enhanced version offers investors the opportunity to earn staking rewards while maintaining exposure to Ethereum. It is listed on leading European exchanges, including SIX Swiss Exchange, Deutsche Börse Xetra, and Euronext Amsterdam.
The 21Shares crypto ETP market is seeing increased activity. Bitwise recently rebranded its XRP ETP to “Bitwise Physical XRP ETP (GXRP)” following a strategic investment from Ripple. This product provides secure exposure to XRP that is physically backed by the underlying asset for European investors.
Also, Bitwise launched the Aptos Staking ETP on the SIX Swiss Exchange, providing regulated access to Aptos staking in Europe.
Meanwhile, WisdomTree has introduced an XRP-backed ETP product across Germany, Switzerland, France, and the Netherlands. The product aims to attract investors with low-cost exposure to the spot price of XRP.
WisdomTree also filed for an XRP ETF in the US earlier this week. Trump’s re-election and the resignation of SEC chief Gary Gensler have renewed optimism about Ripple’s digital currency.
