21Shares launches Layer 1 and DeFi ETPs, start joining in the DeFi revolution

21Shares, a crypto-focused asset management, has launched two ETPs that expose investors to the intricacies of DeFi. Switzerland-based firm plots geographic expansion, exposure to more assets and themes.

The 21Shares Layer 1 ETP (symbol: LAY1) is listed on SIX Swiss Exchange as of today, May 12, 2022, and offers investors targeted exposure to the blockchains that form the technical foundation of the DeFi universe. To this end, LAY1 tracks an index that was custom-tailored by index provider Vinter and invests in an index that includes the five largest Layer 1 blockchains – with a maximum weighting of 30 percent per blockchain. Rebalancing is conducted on a quarterly basis.

The 21Shares DeFi 10 Infrastructure ETP (symbol: DEFII), which also tracks a Vinter index, focuses on DeFi (decentralized finance) applications and layer-1 blockchains — each segment representing half of the benchmark. The assets in both categories are ranked by market capitalization and likewise reweighted quarterly. DEFII is planned to be listed on BX Swiss Exchange on May 18, 2022.

According to the company, 21Shares is the first issuer in Europe to introduce an ETP (exchange-traded product) based on a DeFi index. The products are offered to investors throughout Europe, and 21Shares plans to cross-list them on other regional exchanges.

According to Ophelia Snyder, co-founder and president of 21Shares, the debuts coincide with a shift in investor interest from “superficial” concerns about cryptocurrency to more “nuanced analysis.” She emphasized that both retail and institutional investors want more diversification.

21Shares has launched a handful of ETPs this year, such as products focused on Aave (AAVE), Chainlink (LINK) and Uniswap (UNI). CEO Hany Rashwan said earlier this year that the firm aims to support what it considers to be the top 50 cryptocurrencies by year end.

21Shares is a Swiss company registered in Zug, Switzerland with offices in Zurich and New York City, it takes innovation to the next level with the largest suite of cryptocurrency exchange-traded products (ETPs) in the world. In 2018 it pioneered the world’s first cryptocurrency index listing on the SIX Swiss Exchange, and it continues powering its cryptocurrency franchise with cutting-edge research and groundbreaking approaches to product strategy.

The company aims to provide all investors with an easy, secure and regulated way to buy, sell and short cryptocurrency through existing bank and brokerage accounts. 21Shares recently launched Australia’s first spot bitcoin and ether ETFs and hired Carl Hagerup to head the company’s business in the Nordics and Netherlands.

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.

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