• In Switzerland, 21Shares has launched a new Bitcoin ETP

  • 21Shares AG, a Swiss financial technology firm, has announced the launch of the 21Shares Bitcoin Core ETP, a new exchange-traded product (ETP). The ETP went live on Wednesday, trading under the ticker CBTC on the SIX Swiss Exchange.

    The 21Shares Bitcoin Core ETP is designed for bear market conditions.

    21Shares unveiled its “Crypto Winter Suite” collection of financial products on Twitter. The suite is intended to “offer low-cost points of entry into the crypto ecosystem in a risk-controlled way,” according to the tweet. As implied by the name, the suite is designed for the bear market, with the goal of assisting investors during such stressful times.

    The first financial product in the suite is the 21Shares Bitcoin Core ETP (CBTC). Others are anticipated to be released soon, as the financial firm promises follow-up solutions created expressly for the bear market.

    The ETP is now the most affordable product of its kind on the European market. The expense ratio is 21 basis points, 44 basis points lower than the following financial product.

    Speaking on the launch, Arthur Krause, Director of ETP Products at 21Shares mentioned, “Given the current market environment, many investors are looking to ‘buy the dip’ and generate the maximum potential long-term return”, further noting that the Crypto Winter Suite is meant to give investors the ability to do this “at some of the lowest costs on the market.”

    Hany Rashawn, co-founder and CEO of 21Shares, stated that the suite’s debut was heavily inspired by investor demand for this type of product in order to effectively navigate the crypto winter.

    21Shares is the world’s largest provider of cryptocurrency ETPs.

    21Shares is the world’s leading issuer of crypto ETPs, having released a range of digital asset-tracking financial instruments adapted to different market conditions and investing preferences.

    The firm introduced the 21Shares USD Yield ETP (USDY) last month, the world’s first USD yield ETP. Prior to this, in April, the business launched Australia’s first Bitcoin and Ethereum ETFs, providing investors with low-cost and direct access to the two digital assets.

    In April, 21Shares announced that their product BOLD would be listed on the SIX Swiss Exchange. BOLD is the world’s first ETF to track the values of Bitcoin and Gold at the same time. A month later, the company entered the US market with the launch of two crypto index funds.

    What's your reaction?