21Shares Launches a Crypto.com Cronos (CRO) Exchange Traded Product (ETP) in Europe

21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.com's Cronos token, the asset manager said.

Asset manager 21Shares has launched an exchange traded product (ETP) in Europe offering investors exposure to Crypto.com’s Cronos token, the firm said on Saturday.

The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a statement.

Cronos (CRO) is a layer-1 blockchain network, which is affiliated with centralized exchange Crypto.com. The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support “decentralised finance (DeFi), NFTs, and Web3 applications,” 21Shares said.

The ETP aims to provide investors with a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges,” 21Shares said.

“By launching a Cronos ETP, we are offering investors […] regulated exposure to a blockchain ecosystem that is driving real-world adoption,” Mandy Chiu, 21Shares’ head of financial products development, said in a statement.

The CRO token has a market capitalization of approximately $2.3 billion and a fully diluted value (FDV) of nearly $8.7 billion, according to data from CoinMarketCap.

Cronos has a total value locked (TVL) of approximately $400 million, according to data from DeFiLlama. Its DeFi ecosystem includes Crypto.com’s liquid Ether staking token, Crypto.com Staked ETH, which has nearly $64 million in TVL, the data shows.

Altcoin ETFs abound

On Friday, asset manager VanEck filed to list an exchange-traded fund (ETF) in the U.S. tying another exchange-affiliated token.

The VanEck BNB ETF is the first proposed ETF in the U.S. holding BNB Chain’s native token, BNB. The chain is an affiliate of Binance, the world’s largest centralized exchange.

In the U.S., 21Shares has proposed ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL).

Asset managers are applying for the U.S. Securities and Exchange Commission’s (SEC) permission to list upward of 70 cryptocurrency ETFs.

The wave of filings has come as President Donald Trump is said to be softening the SEC’s regulatory posture toward crypto after taking office in January.