21Shares, known as the largest issuer of crypto exchange-traded products (ETPs) globally, has made a significant entry into the UK financial market. Today, the company announced the listing of four new physically backed crypto-asset exchange traded notes (ETNs) on the London Stock Exchange, specifically designed for professional investors.
This strategic expansion not only expands 21Shares’ geographical presence but also introduces its innovative investment products to one of the world’s most prominent financial centers.
21Shares’ introduction of ETNs in the UK 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 flexible investment options within the UK’s evolving crypto regulatory landscape, representing a crucial step in 21Shares’ mission to connect traditional finance with the crypto economy.
Navigating New Markets: 21Shares’ Role in Global Crypto Finance
The launch signifies more than just entering a new market; it is part of 21Shares’ ongoing global expansion. Established in 2018, the firm 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 increasing demand from investors for digital assets.
Ophelia Snyder, co-founder of 21Shares, emphasized the strategic importance of the UK market, highlighting its depth and liquidity as crucial for institutional investors interested in cryptocurrencies.
According to Snyder, London’s robust capital markets provide an ideal environment for offering well-regulated and structured funds that offer secure access to the growing 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 thrilled to announce that our groundbreaking products ABTC, CBTC, AETH, and ETHC are now listed on the London Stock Exchange! This represents a significant step forward in our mission to democratize cryptocurrency investments. These products offer a unique opportunity to diversify portfolios and…” tweeted 21Shares on 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 highlighted the growing 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 the increasing demand.
21Shares offers a wide range of cryptocurrency ETNs, including seven diversified index ETNs that provide exposure to a basket of leading cryptocurrencies and five staking ETNs that generate returns through staking. Additionally, the firm offers two inverse ETNs designed to profit from declines in cryptocurrency prices.
This diverse range 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, aiming to pave the way for more secure and transparent cryptocurrency investment opportunities.
