World's Primary Polkadot ETP Launched By 21Shares.

World's Primary Polkadot ETP Launched By 21Shares.

2021-02-02 | Robin Williams

World's Primary Polkadot ETP Launched By 21Shares.

Renowned cryptocurrency ETP [Exchange-traded Products] provider, 21Shares, is launching the world’s primary Polkadot [DOT] ETP. The new product, DOT ETP, is going to be listed on the Swiss SIX exchange on later 4th Feb. 2021, 21Shares revealed within an official announcement. The new ETP comes shortly after Polkadot was added to 21Shares’ major ETP product Cryptocurrency Basket ETP [HODL] on 29th Jan. Tracking 5 leading crypto assets like Bitcoin [BTC] and Ethereum [ETH], HODL has removed Bitcoin Cash [BCH] and is now listing Polkadot as the 2nd-largest constituent after Bitcoin [BTC]. In line with HODL ETP data from MVIS indices, Polkadot now accounts for about 27% of the merchandise, while Bitcoin makes up around 50% of the ETP. A spokesperson for 21Shares added that the firm doesn't make decisions on adding or deleting a particular asset from the HODL ETP. The representative stated that such decisions are up to MV Index Solutions. “As an issuer, we cannot decide what to feature and delete [...] they need a committee which decides which constituents are added, increased, reduced or outright taken out." World's Primary Polkadot ETP Launched By 21Shares. As per the announcement, the addition of Polkadot to the 21shares Crypto Basket ETP makes it the “perfect timing to feature a further single asset ETP to the already wide selection of cryptocurrency ETPs” offered by 21shares. The CEO of 21Shares, Hany Rashwan, emphasized that the firm remains committed to the demand seen from institutional investors. “After investors buy their first Bitcoins via our ETPs, there's a natural transition to take a position in other cryptocurrency assets,” Rashwan added. He explained that the firm plans to feature two or three more ETPs within the upcoming three months:
“We enjoy trusted partners for the liquidity provision and upon continued institutional demand, we are launching the DOT ETP to offer investors a secure, regulated, and straightforward due to obtaining exposure to the present exciting new blockchain technology. Within the next 3 months, we aim to feature to 3 more innovative ETPs.”
Polkadot is a new-generation blockchain protocol linking multiple specialized blockchains into one unified network. Earlier in mid-January this year. Polkadot’s native token DOT made the headlines by overtaking Ripple [XRP] as the 4th-leading cryptocurrency. At reporting time, DOT is trading at $17 USD, up nearly 4.61% over the past 24 hours & over  82% over the past 30 days, consistent with data from CoinMarketCap.

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