21Shares, an asset management firm, has expanded its presence in Europe by launching three new crypto exchange-traded products (ETPs) on Nasdaq Stockholm. The newly introduced products include the 21Shares Bitcoin Core ETP (CBTC), the 21Shares Solana Staking ETP (ASOL), and the 21Shares XRP ETP (AXRP).
This move by 21Shares to list on Nasdaq Stockholm marks a significant step in broadening its market reach beyond existing operations across major European exchanges. Currently, the firm offers crypto ETPs on eleven major platforms, including Nasdaq, SIX Swiss Exchange, and Euronext Amsterdam.
The decision to launch these new ETPs in Sweden comes amidst the positive growth and performance of the asset class in other markets. Bitcoin ETPs have notably outperformed traditional ETFs in the US over the past year, attracting record inflows during the reporting period. Investor optimism towards digital assets like Solana and XRP is also on the rise as regulators in the United States explore potential spot ETF products featuring these assets.
21Shares positions its newly listed ETPs as transparent and regulated vehicles for European investors to gain direct exposure to cryptocurrencies. Each product aims to simplify the process for investors to diversify their portfolios by directly linking them to underlying crypto assets. The CBTC product offers a low management fee of just 0.21%, providing cost-effective Bitcoin exposure. The ASOL product enables investors to participate in staking rewards, potentially increasing returns from Solana holdings. Additionally, the AXRP product offers exposure to XRP, emphasizing its growing use in global payment solutions.
Mandy Chiu, 21Shares’ Head of Financial Product Development, highlighted the importance of these product launches in a period of regulatory progress in Europe. Chiu noted that European institutional interest in crypto is on the rise due to increased regulatory clarity provided by the Markets in Crypto-Assets (MiCA) framework. She emphasized the firm’s ambition to simplify crypto investing for European investors through its presence on Nasdaq Stockholm.
Overall, 21Shares’ expansion into the European market with these new ETPs reflects the growing confidence and institutional participation in the crypto space, driven by regulatory advancements and increasing adoption of digital assets.
