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21Shares, recognized as the largest issuer of crypto exchange-traded products (ETPs) globally, has made a significant move into the UK financial market. Today, the company unveiled the listing of four new physically backed crypto-asset exchange traded notes (ETNs) on the London Stock Exchange, specifically tailored for professional investors.
This strategic expansion not only broadens 21Shares’ geographical footprint but also introduces its pioneering investment products to one of the world’s most prominent financial hubs.
This introduction of ETNs in the UK by 21Shares comes at a time when the Financial Conduct Authority (FCA) has updated its regulatory framework to allow professional investors to access Bitcoin and Ethereum-backed ETNs.
The dual listing in both GBP and USD formats aims to provide versatile investment options within the UK’s evolving crypto regulatory landscape, marking a critical step in 21Shares’ mission to bridge traditional finance with the crypto economy.
Navigating New Markets: 21Shares’ Role in Global Crypto Finance
The launch represents more than just a new market entry; it’s a part of 21Shares’ ongoing global expansion. The firm, founded in 2018, was the first to introduce a physically-backed crypto ETN, setting a precedent in the crypto investment space.
Already listed on several major exchanges worldwide, including Nasdaq OMX, Euronext in Paris and Amsterdam, Deutsche Börse Xetra, and SIX Swiss Exchange, 21Shares continues to cater to the growing investor appetite for digital assets.
Ophelia Snyder, co-founder of 21Shares, highlighted the strategic importance of the UK market, noting its depth and liquidity as crucial for institutional investors interested in cryptocurrencies.
According to Snyder, London’s robust capital markets are an ideal setting for offering well-structured, regulated funds that provide secure access to the burgeoning crypto market. With over 40 ETNs listed across 11 different stock exchanges, 21Shares aims to be at the forefront of providing innovative financial products in stable and regulated environments.
We’re delighted to share that our trailblazing products ABTC, CBTC, AETH, and ETHC are now listed on the London Stock Exchange! This is a significant step forward in our mission to democratize cryptocurrency investments. They offer a unique opportunity to diversify portfolios and… pic.twitter.com/f2yIdKpA4Y
— 21Shares (@21Shares) May 28, 2024
Looking Forward: The Future of Decentralized Finance
Hany Rashwan, co-founder of 21Shares, emphasized the enduring nature of cryptocurrencies and their role in a decentralized global financial system. He pointed out the increasing recognition of crypto’s potential among institutional investors, which is driving the demand for diversified crypto investment products.
Rashwan expressed enthusiasm about the evolving regulatory landscape and the company’s commitment to supporting the sector’s growth by meeting this burgeoning demand.
21Shares offers an extensive array of cryptocurrency ETNs, including seven diversified index ETNs that allow exposure to a basket of leading cryptocurrencies and five staking ETNs that generate returns through staking. Additionally, the firm provides two inverse ETNs designed to profit from declines in cryptocurrency prices.
This diverse suite of products is part of 21Shares’ strategy to make cryptocurrency investment accessible through traditional financial systems and to support investors in navigating the complex yet potentially rewarding landscape of digital assets.
As 21Shares continues to expand its offerings in the UK, the focus remains on enhancing product accessibility and ensuring compliance with local regulations, striving to pave the way for more secure and transparent cryptocurrency investment avenues.