21Shares, a serious crypto exchange-traded product (ETP) supplier, is increasing its choices in Europe with the launch of six extra funds on Sweden’s inventory alternate, Nasdaq Stockholm.
21Shares on Thursday announced the cross-listing of six further merchandise on Nasdaq Stockholm, together with ETPs for Aave (AAVE), Cardano (ADA), Chainlink (LINK), Polkadot (DOT) and two crypto basket merchandise.
With the enlargement, 21shares now affords a complete of 16 ETPs on Nasdaq Stockholm, which is only a fraction of a number of choices available on different European exchanges like SIX Swiss Alternate, Deutsche Börse Xetra, Euronext Amsterdam and extra.
The brand new launches got here the following day after 21Shares launched the Solana (SOL) exchange-traded fund (ETF) on Wednesday, including to a collection of SOL ETF launches.
21Shares manages $8 billion in AUM
“We proceed to see robust demand from Nordic buyers searching for diversified, cost-efficient entry to digital belongings by means of regulated exchanges,” 21Shares’ head of EU investments, Alistair Byas Perry, mentioned.
“This enlargement allows us to supply an excellent broader toolkit of single-asset and index-based crypto ETPs, giving each retail and institutional buyers the flexibility to tailor their digital asset publicity inside a trusted and clear framework,” he added.
With listings on a number of exchanges in Europe and the US, 21Shares is without doubt one of the largest crypto ETP suppliers, managing almost $8 billion in belongings globally, which accounts for roughly 4% of the whole $191.5 billion in crypto ETFs issued worldwide.
According to CoinShares information, roughly half of 21Shares’ AUM is held in US crypto ETFs, issued in partnership with Cathie Wooden’s ARK Make investments.
Many, many crypto ETFs
The crypto ETP enlargement by 21shares comes amid a wave of recent crypto funds flooding the US market, with spot XRP (XRP) ETFs debuting on the Nasdaq exchange final week.
Following Canary Capital’s launch of the primary spot XRP ETF, extra XRP funds are anticipated to debut in the approaching days, together with ETFs from Bitwise and Grayscale, scheduled to launch in the present day and Monday, respectively.
Based on ETF skilled Nate Geraci, XRP grew to become the sixth asset to underpin a single-asset crypto ETF in the US, following Bitcoin (BTC), Ether (ETH), Solana, Litecoin (LTC) and Hedera (HBAR).
Though optimism round new US crypto ETFs has been on the rise, Bitcoin ETFs, the gateway crypto funds that debuted buying and selling in January 2024, have struggled just lately.
Associated: US Bitcoin ETFs snap five-day bloodbath as BTC reclaims $92K
On Tuesday, BlackRock’s iShares Bitcoin ETF (IBIT) noticed its worst day of outflows ever, with greater than $520 million leaving the fund, according to Bloomberg ETF analyst Eric Balchunas.
After 4 consecutive weeks of outflows, year-to-date inflows in Bitcoin ETFs dropped to $27.4 billion, about 30% under last year’s total of $41.7 billion, based on CoinShares information.
Journal: Saylor denies Bitcoin sell-off, XRP ETF debut tops chart: Hodler’s Digest, Nov. 9 – 15
