coindesk.com
Crypto asset manager 21Shares has launched a new exchange-traded product (ETP) offering investors regulated exposure to the native token of Cronos, a Layer 1 network developed by Crypto.com, for Web3 applications.
The 21Shares Cronos ETP, which trades under the ticker CRON, is listed on Euronext Paris and Euronext Amsterdam. It carries a 2.5% annual fee and provides exposure to $CRO.
The product allows investors to add $CRO exposure to their portfolios through brokers and banks, without handling crypto wallets or exchanges.
This is the latest addition to the Zurich-based firm’s growing list of crypto-linked ETPs, which already cover various cryptocurrencies. The Swiss asset manager has also been moving to expand its offering in the U.S. with a recent S-1 registration form for a SUI ETF.
The price of $CRO is down around 1.4% for the day, in line with a broader cryptocurrency market movement.