Just-In: 21Shares Launches Bitcoin, Solana, & XRP ETPs In Europe

The leading asset management firm 21Shares has expanded its foothold into Europe with its latest crypto products. According to the recent announcement, the firm has listed Bitcoin Core ETP (CBTC), the Solana Staking ETP (ASOL), and the XRP ETP (AXRP) on Nasdaq Stockholm.

21Shares Expands Reach With New Crypto ETPs

21Shares has expanded its European foothold with the listing of three crypto exchange-traded products on Nasdaq Stockholm. The asset manager, with more than $7.5 billion in assets under management, announced the listing, sparking market interest.

According to the announcement, the products include low-cost Bitcoin ETP, a Solana staking ETP, and XRP ETF, which are primarily designed for both retail and institutional traders. The firm’s Head of Financial Product Development has lauded the update, highlighting this expansion as a key milestone for the firm.

Meanwhile, she also noted that 2024 marks a crucial year for crypto adoption in Europe, driven by regulatory clarity under the Markets in Crypto-Assets (MiCA) framework. Mandy Chiu stated:

“As institutional adoption of cryptoasset ETPs accelerates and regulatory clarity strengthens across Europe, we remain committed to expanding our product offerings to meet growing investor demand.”

A Closer Look Into 21Shares Crypto ETPs

Bitcoin Core ETP (CBTC)

As per the announcement, CBTC comes with one of the lowest management fees in Europe, standing at just 0.21%. This cost-effective approach might help attract more investors seeking direct BTC exposure.

Solana Staking ETP (ASOL)

ASOL offers a unique staking model, allowing investors to earn staking rewards while maintaining exposure to Solana. Solana’s blockchain innovations in gaming, finance, and identity security make it a valuable asset. Having said that, this ETP helps investors tap into the benefits of staking without the technical complexities.

XRP ETP (AXRP)

AXRP is fully backed by XRP, providing transparent and regulated exposure to Ripple’s native assets. Meanwhile, as XRP continues to play a vital role in cross-border payments, this ETP presents an accessible way for European investors to gain exposure.

21Shares: A Leading Name In US Crypto Sphere

Apart from the European expansion, 21Shares has gained notable traction in the US. With the shifting regulatory stance in the US amid the global push for digital assets, the firm has gained notable traction from investors.

Recently, Nasdaq has submitted 19-4 filing for 21Shares Polkadot ETF with the US SEC, which has caught the eyes of the investors. Besides, this latest announcement also comes as investors’ focus on the crypto products has regained momentum.

For context, the US Spot Bitcoin ETF recorded an inflow of $785 million last week, after gloomy trading during the broader market retreat. Having said that, these new offerings might drive more investment and attract more traders into the digital assets space from the European region.