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21Shares lists Polygon ETPs, MATIC rallies by over 10%

By:
on Dec 2, 2021
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  • 21Shares has announced the listing of Polygon ETPs.
  • The ETPs will track the price of Polygon, and they will be available on Euronext in Amsterdam and Paris.
  • The listing has contributed to notable gains for MATIC.

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Polygon (MATIC/USD), one of the layer-two solutions built on Ethereum (ETH/USD), is making major gains. The network seeks to offer scalability, which Ethereum users really seek, given the network’s rising fees and slow transaction processing times.

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Polygon has recorded major adoption from developers due to its promise of scalability, and its native token, MATIC, continues to attract investors. 21Shares has announced the listing of Polygon exchange-traded products (ETPs).

21Shares lists Polygon ETPs

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21Shares is the largest issuer of cryptocurrency ETPs globally. The Polygon ETPs will be available on Euronext in Paris and Amsterdam. Products offered by 21Shares are listed on eight trading exchanges in Europe and Switzerland.

The 21Shares Polygon ETP will focus on tracking the prices of Polygon. As aforementioned, Polygon is one of the scalable blockchains in the market, hosting over 3000 applications. It is the most popular full-stack scaling solution on Ethereum because of its fast speeds, low fees and efficiency.

21shares is one of the largest digital asset management firms. It manages more than $2.9 billion in different cryptocurrency ETPs. It offers 81 listings, including the only ETP in the world that tracks Binance. It also has two ETPs that offer investor staking rewards, including Tezos and Solana.

MATIC makes a major rally

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MATIC currently ranks as one of the top 20 cryptocurrencies in terms of market capitalization. The token failed to make a major price rally in October and early November as the rest of the market did.

As Bitcoin and Ethereum hit new all-time highs, MATIC was trading at around $2.03, which was way below its ATH set in May, at the peak of the crypto market. However, since the end of November, the token has been making a major rebound, and the recent ETP listing has further boosted the prices.

During the past 24 hours, MATIC has gained by more than 10%, which is a major gain, given that the majority of the market is currently trading in the red zone after Bitcoin (BTC/USD) dropped to $56,000. MATIC is among the few tokens in the top 20 ranking that has made gains during the past 24 hours.

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