21Shares has launched an change traded product (ETP) in Europe, offering traders with publicity to Crypto.com’s Cronos token, the asset supervisor stated.
The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a Might 6 announcement.
Cronos (CRO) is a layer-1 blockchain community affiliated with Crypto.com, a centralized change.
The chain is designed to combine with the Ethereum and Cosmos ecosystems and assist “decentralised finance (DeFi), NFTs, and Web3 purposes,” 21Shares stated.
The ETP goals to offer traders with a “easy strategy to combine CRO into their portfolios by means of conventional banks and brokers, eliminating the necessity to immediately deal with digital wallets or exchanges,” 21Shares stated.
“By launching a Cronos ETP, we’re providing traders […] regulated publicity to a blockchain ecosystem that’s driving real-world adoption,” Mandy Chiu, 21Shares’ head of economic merchandise improvement, stated in an announcement.
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The CRO token has a market capitalization of roughly $2.3 billion and a completely diluted worth (FDV) of practically $8.7 billion, in accordance with data from CoinMarketCap.
Cronos has a complete worth locked (TVL) of roughly $400 million, in accordance with data from DeFiLlama.
Its DeFi ecosystem consists of Crypto.com’s liquid Ether staking token, Crypto.com Staked ETH, which has practically $64 million in TVL, the information exhibits.
Altcoin ETFs abound
On Might 5, asset supervisor VanEck filed to checklist an exchange-traded fund (ETF) within the US tied to yet one more exchange-affiliated token.
The VanEck BNB ETF is the primary proposed ETF within the US holding BNB Chain’s native token, BNB. The chain is affiliated with Binance, the world’s largest centralized change.
Within the US, 21Shares has proposed ETFs holding cryptocurrencies together with Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL).
Asset managers are in search of the US Securities and Trade Fee’s (SEC) permission to list upward of 70 cryptocurrency ETFs.
The wave of filings has come on account of US President Donald Trump softening the SEC’s regulatory posture towards crypto after taking workplace in January.
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Cointelegraph by Alex O’Donnell 21Shares launches ETP for Crypto.com’s Cronos token cointelegraph.com 2025-05-06 19:24:42
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