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21Shares Launches 5 New Exchange-Traded Products Focused on Cryptocurrencies
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The cryptocurrency-focused financial products company 21Shares announced the launch of four new exchange-traded products (ETPs). The products focus on cryptocurrencies widely known on the market.
According to the announcement published on X, 21Shares’ new ETPs include solutions for the following projects:
According to the description released by 21Shares, each of these ETPs is 100% physically backed by associated tokens.
The news boosted the prices of three of the four cryptocurrencies. According to CoinGecko, at the time of publishing, RENDER it’s costing US$8.13, with a daily appreciation of 7.6%. Meanwhile, the token WHERE rose 2.7% in the last 24 hours to $1.07. Already PYTH and NEAR present values of US$0.46 (+6.7%) and US$6.59 (-1.8%)respectively.
100% Backed Cryptocurrency Products
21Shares continues to expand its line of products aimed at the cryptocurrency market. In November, as reported by Todaysgist, the company submitted a registration statement to the United States Securities and Exchange Commission (SEC) to launch the “21Shares Core XRP Trust”. While the fund does not offer direct exposure to XRP, it does allow investors access indirectly the cryptocurrency market.
It is an ETF based on the XRP, digital asset associated with the Ripple Labs payments platform. Despite the registration, there is still no set date for the launch.
Furthermore, another asset manager, Wisdom Tree, also recently submitted a request to create a ETF based on the cryptocurrency XRP in the state of Delaware. With more than 113 billion dollars in assets, something around 600 billion reais, the manager is notable for offering ETFs with regular returns.
Currently, XRP is trading for $1.47, which represents an increase in 1.8% in the last 24 hours.
21Shares Launches 5 New Exchange-Traded Products Focused on Cryptocurrencies
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21Shares Launches 5 New Exchange-Traded Products Focused on Cryptocurrencies
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21Shares Launches 5 New Exchange-Traded Products Focused on Cryptocurrencies
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21Shares Launches 5 New Exchange-Traded Products Focused on Cryptocurrencies
