The 21shares launched an exchange traded product (ETP) in Europe, which provides investors on the exposure to Cronos Token of Crypto.com, the asset manager said.
ETP is listed in Euronext's Paris and Amsterdam Exchange, 21shares Says In a May 6 announcement.
Cronos (CRO) is a layer-1 blockchain network associated with crypto.com, a centralized exchange.
The chain is designed to combine with the Ethereum and Cosmos ecosystem and support “Decentralized Finance (DEFI), NFTS, and WeB3 applications,” 21shares said.
The ETP aims to provide investors a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital dompet or exchange,” 21shares said.
“By launching a Cronos ETP, we offer investors […] Regulated exposure to a blockchain ecosystem that drives real-world adoption, “Mandy Chiu, head of the development of 21shares financial products, said in a statement.
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CRO token has a market capitalization of approximately $ 2.3 billion and a fully melted amount (FDV) of nearly $ 8.7 billion, according to Data From CoinMarketCap.
Cronos has a total amount locked (TVL) of more than $ 400 million, according to Data From Defillrama.
Its defi ecosystem includes a liquid ether token of Crypto.com, Crypto.com Staked Eth, which has about $ 64 million on TVL, the data shows.
ETFs of Altcoin increased
On May 5, asset manager Vaneck filed to list a funds exchanged by the exchange (ETF) in the US tied to another exchange -related token.
The Vaneck BNB ETF is the first proposed ETF in the US holding the native token of the BNB chain, BNB. The chain is associated with Binance, the world's largest centralized exchange.
In the US, 21shares proposed ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL).
Asset managers are seeking permission of the US Securities and Exchange Commission (SEC) to list up to 70 Cryptocurrency ETFs.
The wave of the films came as a result of US president Donald Trump softening the SEC's posture regulation toward crypto after office in January.
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