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 introduced the cross-listing of six extra merchandise on Nasdaq Stockholm, together with ETPs for Aave (AAVE), Cardano (ADA), Chainlink (LINK), Polkadot (DOT) and two crypto basket merchandise.
With the growth, 21shares now provides a complete of 16 ETPs on Nasdaq Stockholm, which is only a fraction of a number of choices out there on different European exchanges like SIX Swiss Change, Deutsche Börse Xetra, Euronext Amsterdam and extra.
The brand new launches got here the subsequent day after 21Shares launched the Solana (SOL) exchange-traded fund (ETF) on Wednesday, including to a sequence of SOL ETF launches.
21Shares manages $8 billion in AUM
“We proceed to see robust demand from Nordic traders in search of diversified, cost-efficient entry to digital property by regulated exchanges,” 21Shares’ head of EU investments, Alistair Byas Perry, stated.
“This growth allows us to supply a fair broader toolkit of single-asset and index-based crypto ETPs, giving each retail and institutional traders 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 likely one of the largest crypto ETP suppliers, managing practically $8 billion in property globally, which accounts for roughly 4% of the whole $191.5 billion in crypto ETFs issued worldwide.
In accordance to CoinShares knowledge, 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 growth by 21shares comes amid a wave of recent crypto funds flooding the US market, with spot XRP (XRP) ETFs debuting on the Nasdaq alternate final week.
Following Canary Capital’s launch of the primary spot XRP ETF, extra XRP funds are anticipated to debut within the coming days, together with ETFs from Bitwise and Grayscale, scheduled to launch immediately and Monday, respectively.
In line with ETF professional Nate Geraci, XRP grew to become the sixth asset to underpin a single-asset crypto ETF within 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 lately.
Associated: US Bitcoin ETFs snap five-day massacre 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, in accordance 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 final yr’s whole of $41.7 billion, in response to CoinShares knowledge.
Journal: Saylor denies Bitcoin sell-off, XRP ETF debut tops chart: Hodler’s Digest, Nov. 9 – 15
