European Investors Get More Crypto Options as 21Shares Launches New ETPs
Crypto asset manager 21Shares has launched three crypto exchange traded products (ETPs) on Euronext Paris and Amsterdam, looking to grow its offerings.
The new funds are called 21Shares Immutable ETP (AIMX), 21Shares Injective Staking ETP (AINJ) and 21Shares Sui Staking ETP (ASUI). Counting these, the firm now offers 43 crypto ETPs in Europe, managing over $3.3b in total assets.
As of March, the asset manager’s total assets under management (AUM) exceeded $5b, boosted by the crypto market’s rebound.
Other funds it already offers in Europe include options for Ethereum Staking, Bitcoin ownership, and a diversified crypto basket.
21Shares’ Solana Staking ETP (ASOL) is its most popular product in Europe, according to the firm. Launched in 2021 as the world’s first Solana ETP, ASOL currently has over $800m in AUM.
21Shares’ ETPs Capitalize on Gaming and Emerging Blockchains
The Immutable ETP lets investors jump on the gaming and digital collectibles trend, tracking Immutable native token IMX’s performance. The Immutable blockchain is seen as a potential leader in the crypto gaming space, making AIMX an attractive option for investors looking to capitalize on this growth.
Next, the Injective Staking ETP merges exposure to Injective native token INJ with automatically reinvested staking rewards. This approach lets investors benefit from both INJ’s potential growth and the rising significance of decentralized finance (DeFi) within the Injective network.
Finally, the Sui Staking ETP rounds out the launch with exposure to the native token SUI. Similar to the Injective ETP, it automatically reinvests staking rewards to boost returns. It also offers a convenient way to benefit from SUI’s potential growth and the network’s staking opportunities.
“The world of decentralized finance (DeFi) is constantly evolving, as technological innovation has continued to move at a rapid clip,” 21Shares CEO Hany Rashwan, said in a statement.
“Meanwhile, investors are expressing ongoing interest in gaining exposure to new blockchain technologies, platforms and protocols.”
Asset Manager Expands Reach
The launch in Paris and Amsterdam follows 21Shares’ crypto ETP rollout in the UK. In May, it launched four physically-backed crypto ETNs on the London Stock Exchange, including options for Bitcoin, Ethereum Staking, and Core versions of both.