21Shares becomes the first company to roll out a Polkadot ETP

Written by: Jinia Shawdagor
February 2, 2021
  • The company will launch the Polkadot ETP through the Swiss SIX Exchange on February 4.
  • This launch comes as the firm tries to stay ahead of the curve as ETPs interest continues surging.
  • Per 21Shares CEO, the company is planning to roll out more ETPs in the next three months.

Zurich-based 21Shares AG, the firm that pioneered crypto exchange-traded products (ETPs), has unveiled that it seeks to launch the world’s first Polkadot ETP. Formerly known as Amun, the company revealed this news via a press release, noting that the product is dubbed DOT ETP and it will launch through the regulated segment of the Swiss SIX Exchange on February 4. In so doing, 21Shares will add Polkadot to the already broad range of ETPs that it provides.

According to the news release, the decision to launch a Polkadot ETP comes after 21Shares added Polkadot to the 21Shares HODL basket ETP less than a week ago. In doing so, Polkadot replaced Bitcoin Cash (BCH) to become the second-largest constituent in the basket after Bitcoin (BTC).

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Per Rashwan, the company decided to introduce the Polkadot ETP to meet the needs of crypto investors. He believes there is a natural transition into other cryptocurrencies after the firm’s investors buy BTC through its ETPs. According to him, the company has illustrated its capabilities in the D-A-CH region by consistently delivering various products over the past two years. However, European investors have been approaching the organization, requesting it to introduce new products based on other leading cryptocurrencies.

Rashwan further cited that by launching the DOT ETP, the company seeks to offer its clients a safe, regulated, and simple way to gain exposure to the blockchain and crypto sectors. He also disclosed that 21Shares aims to launch two or three more ETPs and European exchange listings over the next three months. Through this move, the company seeks to offer its clients easy access to virtual currencies, eliminating the need to deal with private keys, unregulated wallets, or exchanges.

At the time of writing, Polkadot is trading at £12.35 after surging 5.22% over the past 24 hours. The coin currently sits in the fifth position on CoinMarketCap’s list of cryptocurrencies with the largest market caps.

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