Cronos-Linked ETP Launched by Swiss Firm 21Shares

TL;DR: 21Shares, the Swiss firm known for its innovative ETPs, has expanded its product offerings with a new asset linked to Cronos, the blockchain developed by Crypto.com. This new ETP, launched on Euronext Paris and Euronext Amsterdam, allows investors to easily access the CRO token from regulated markets without the need to operate on exchanges or manage digital wallets.

The aim, as stated by 21Shares, is to simplify the entry of institutional and retail capital into the Web3 ecosystem, eliminating technical barriers that usually prevent traditional investors from participating in this rapidly growing industry.

Cronos, known for its interoperability with Ethereum and Cosmos, creates a multi-chain environment that connects dApps with centralized access solutions. This versatility makes Cronos an ideal infrastructure for financial services, AI, and interoperable products.

From Crypto.com, Eric Anziani, president and COO, highlighted that this launch will improve accessibility to the Cronos ecosystem, facilitating contact with new investors for blockchain-based solutions.

21Shares is recognized for its efforts in reducing the complexity of investing in the crypto market, offering it through familiar structures and platforms. This initiative aligns with the firm's goal of expanding the industry and promoting broader participation.

Recently, 21Shares has added several products to its European catalog. The company included three ETPs on Nasdaq Stockholm: Bitcoin Core ETP, Solana Staking ETP, and XRP ETP. Each one offers physical exposure to their respective assets, with specific features such as staking yields for Solana and one of the lowest management fees on the market for the Bitcoin product.

According to Mandy Chiu, head of financial products development at 21Shares, this year marks a turning point for institutional adoption of cryptocurrencies and digital assets in Europe. The implementation of the MiCA framework and the arrival of regulated products have improved the confidence of traditional investors and operators in the industry.

21Shares plans to continue expanding across the continent, focusing on products with Web3 and blockchain applications. The goal is to bring new and interesting assets to investors in a simple and accessible way, catering to the diverse investment strategies in the region.