Asset management firm 21Shares continues to expand its presence in Europe with the recent launch of three new crypto exchange-traded products (ETPs) on Nasdaq Stockholm. The announcement, made on March 24th, introduced the 21Shares Bitcoin Core ETP (CBTC), the 21Shares Solana Staking ETP (ASOL), and the 21Shares XRP ETP (AXRP) to the Swedish market.
This move further solidifies 21Shares’ position in Europe, where it already offers crypto ETPs on eleven major platforms, including Nasdaq, SIX Swiss Exchange, and Euronext Amsterdam. The decision to list these new products in Sweden comes at a time when the asset class is experiencing positive growth in other markets.
Bitcoin ETPs, in particular, have outperformed traditional ETFs in the US over the past year, attracting record inflows from investors. Additionally, there is growing optimism among investors towards other digital assets like Solana and XRP, as regulators in the United States consider the possibility of introducing spot ETF products featuring these assets.
21Shares aims to bridge the gap between traditional finance (TradFi) and the world of crypto with its newly listed ETPs. These products provide transparent and regulated avenues for European investors to directly access cryptocurrencies with physical backing. The CBTC product, for example, boasts a low management fee of just 0.21%, making it an attractive option for gaining exposure to Bitcoin.
The ASOL product allows investors to participate in staking rewards, potentially increasing returns from their Solana holdings. Meanwhile, the AXRP product offers exposure to XRP, highlighting its growing use in global payment solutions.
According to Mandy Chiu, Head of Financial Product Development at 21Shares, these product launches come at a crucial time of regulatory progress in Europe. Chiu noted that European institutional interest in crypto is on the rise, thanks to the regulatory clarity provided by the Markets in Crypto-Assets (MiCA) framework.
Chiu emphasized the significance of 21Shares’ presence on Nasdaq Stockholm, stating that it reflects the firm’s commitment to simplifying crypto investing for European investors amidst a growing confidence in the market.
Overall, 21Shares’ expansion into the Swedish market with these new ETPs signals a broader trend of increasing institutional interest and regulatory acceptance of cryptocurrencies in Europe. As the industry continues to evolve, 21Shares remains at the forefront of providing innovative investment solutions for European investors.