As a seasoned researcher with a keen interest in the evolving world of digital assets, I find the recent moves by 21Shares particularly intriguing. Having closely followed their strategic expansion in Europe, I am impressed by their proactive approach to regulatory challenges and their ability to capitalize on market opportunities.
As a cryptocurrency investor, I’ve noticed an exciting development – 21Shares has expanded their Europe-based offerings by introducing four new Exchange Traded Products (ETPs). It seems that the demand for digital asset investment products is surging in the region, with more and more fund issuers entering the market. This influx of crypto-focused financial instruments promises to open up new opportunities for us investors!
21Shares unveiled new exchange-traded products on Nov. 27, each tied to four distinct cryptocurrencies: Pyth Network (PYTH), Ondo (ONDO), Render (RNDR), and Near Protocol (NEAR). These novel offerings encompass the areas of price data, asset tokenization, decentralized computation, and artificial intelligence.
21Shares offers a method for investors to automatically reinvest their staking rewards from the NEAR cryptocurrency into the ETP. NEAR’s proof-of-stake blockchain system permits token holders to reinforce the network by locking their tokens, which is referred to as staking and provides returns to participants.
As an analyst, I’ve observed that reinvesting rewards can significantly enhance the performance of 21Shares NEAR ETP, ultimately leading to greater returns for our customers. These four ETFs will be accessible for trading on various exchanges, such as those in Amsterdam and Paris, among other cities.
Exciting announcement for fellow crypto enthusiasts: Four groundbreaking Exchange-Traded Products (ETPs) have just been introduced! Here’s a sneak peek into our latest offerings, designed to revolutionize the space:
— 21Shares (@21Shares) November 26, 2024
21Shares pushes European expansion
21Shares, based in Zug, announced expansions to their crypto ETP lineup a few weeks following their request for regulatory clarification. In October, they called upon European regulators to establish clear instructions for both retail and institutional investors investing in digital asset products.
Despite regulations like the Markets in Crypto-Assets setting guidelines for stablecoin operators and trading platforms, there’s still an open question about the oversight of ETFs (Exchange Traded Funds) and ETPs (Exchange Traded Products) within European markets.
21Shares believes that the European Securities and Markets Authority might be able to fill the void by establishing a unified system applicable across all EU member nations.
During this period, the fund manager took advantage of adaptable rules for staking cryptocurrencies. Back in November, they decided to rebrand their Ethereum Core Exchange-Traded Product (ETP), incorporating staking rewards into it. The product was subsequently renamed to Ethereum Core Staking ETP, mirroring this change.
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2024-11-27 20:46