The world's largest crypto ETP emittee enters the US market

The world's largest crypto ETP emittee enters the US market

The world's largest issuer of crypto ETP has entered the US market with two index funds that offer diversified commitment in some of the largest assets in the world.

21Shares US Advisers has a Crypto Basket 10 Index Fund and a Crypto Mid-Cap Index Fund, the company said on Wednesday. The private placements that indices developed by index bidders Winter are accredited US investors.

The Crypto Basket 10 Index Fund shows the prices of the top 10 cryptocurrencies available on US exchanges based on market capitalization. The MID-CAP Index Fund, which leaves the commitment to Bitcoin and Ether, focuses on the next eight crypto systems with the highest market capitalization.

Arthur Krause, Vice President of Product at 21Shares, said in a explanation that the cumulative return of the top dozen cryptocurrencies has clearly output the S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite over long periods of time.

"Our two new index funds enable accredited investors to participate in cryptocurrencies without taking responsibility for the management of deposit agreements, the tracking of private keys and passwords or being susceptible to hacking or security breaches."

The company based in Switzerland tried to enter the US market by submitting an application for the offer of a spot bitcoin ETF at ARK Invest last year. The SEC has not yet approved such a product.

While the introduction of the index fund is the first time that 21 -shares offered in the USA, the company has expanded its product range aggressively worldwide in recent years.

21Shares has included a handful of ETPs (Exchange Traded Products) in its product range in Europe. Last week it launched a product that gives investors access to Layer-1 blockchains, and is to launch another product on Wednesday, the company announced. Both are listed in Switzerland.

The country also expanded its presence in Australia last week and introduced the first spot bitcoin and ether ETPS of the continent.

Ophelia Snyder, co -founder and president of 21shares, said Blockworks beforehand that the company was concentrating to penetrate further regions, and found that 21 shares intended to gain a foothold in the Middle East next month.

"Our worldwide mission is to build bridges into the crypto world," said Hany Rashwan, CEO of 21shares, in a statement. "The two funds today are decisive building blocks for US investors who want to include Krypto in their portfolio or are looking for ways to diversify their cryptocurrency stocks."

. .

The contribution "World's largest crypto ETP emittee enters the US market" is not a financial advice.