21Shares Unveiled World’s First ETP Offering Exposure For Stacks
Key Points:
- 21Shares, a leading crypto exchange-traded product (ETP) issuer, has developed a product that provides exposure to Bitcoin Layer 2 network Stacks.
- According to the company, the product is the world’s first ETP-enabling exposure to Stacks.
- The ASTX is now accessible for trading on the BX Swiss exchange.
21Shares AG, a cryptocurrency exchange-traded product (ETP) issuer, launched the 21Shares Stacks Staking ETP (ASTX) today, the world’s first ETP allowing exposure to Stacks.
The 21Shares Stacks Staking ETP is listed on the BX Swiss Exchange with the ticker ASTX, according to an April 4 release.
According to the business, Stacks is a crypto asset protocol that unleashes Bitcoin’s full potential as an infrastructure for smart contracts and decentralized apps. The basic objective of Stacks is to go beyond Bitcoin’s primary use case as an emergent store of value assets and settlement infrastructure.
It is one of the most promising crypto assets in the market today, with a market cap of $1.57 billion, a tiny fraction of other promising assets, and the ASTX is the first opportunity for investors to have access to this asset without physically owning it.
Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares, stated:
“ASTX provides a unique opportunity for investors, as there are currently no other investment products providing exposure to Stacks on the market.”
In conjunction with this announcement, the company is adding staking on the 21Shares Ethereum Core ETP (CETH) and renaming it the 21Shares Ethereum Core Staking ETP to reflect this change.
These improvements will go into effect on April 12, after the Shapella Upgrade, which will enable Ethereum holders to withdraw staked Ethereum.
Today’s product improvements are in response to investors’ sustained interest in the asset class in early 2023. This year, 21Shares had its second best January in company history and continues to see net new assets despite market occurrences.
In January 2023, the AUM for the company’s Ethereum and Bitcoin ETPs (AETH and ABTC) both surpassed $200 million, bringing the company’s total AUM to over $200 million. Thus far this year, it has reported $30 million in net new assets.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
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21Shares Unveiled World’s First ETP Offering Exposure For Stacks
Key Points:
- 21Shares, a leading crypto exchange-traded product (ETP) issuer, has developed a product that provides exposure to Bitcoin Layer 2 network Stacks.
- According to the company, the product is the world’s first ETP-enabling exposure to Stacks.
- The ASTX is now accessible for trading on the BX Swiss exchange.
21Shares AG, a cryptocurrency exchange-traded product (ETP) issuer, launched the 21Shares Stacks Staking ETP (ASTX) today, the world’s first ETP allowing exposure to Stacks.
The 21Shares Stacks Staking ETP is listed on the BX Swiss Exchange with the ticker ASTX, according to an April 4 release.
According to the business, Stacks is a crypto asset protocol that unleashes Bitcoin’s full potential as an infrastructure for smart contracts and decentralized apps. The basic objective of Stacks is to go beyond Bitcoin’s primary use case as an emergent store of value assets and settlement infrastructure.
It is one of the most promising crypto assets in the market today, with a market cap of $1.57 billion, a tiny fraction of other promising assets, and the ASTX is the first opportunity for investors to have access to this asset without physically owning it.
Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares, stated:
“ASTX provides a unique opportunity for investors, as there are currently no other investment products providing exposure to Stacks on the market.”
In conjunction with this announcement, the company is adding staking on the 21Shares Ethereum Core ETP (CETH) and renaming it the 21Shares Ethereum Core Staking ETP to reflect this change.
These improvements will go into effect on April 12, after the Shapella Upgrade, which will enable Ethereum holders to withdraw staked Ethereum.
Today’s product improvements are in response to investors’ sustained interest in the asset class in early 2023. This year, 21Shares had its second best January in company history and continues to see net new assets despite market occurrences.
In January 2023, the AUM for the company’s Ethereum and Bitcoin ETPs (AETH and ABTC) both surpassed $200 million, bringing the company’s total AUM to over $200 million. Thus far this year, it has reported $30 million in net new assets.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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