Dear readers, we have a sensational announcement that will make your wallets dance with joy! 🎉💸🚀 21Shares, the world’s largest cryptocurrency exchange-traded product issuer, has decided to slash the management fee for its Bitcoin Ethereum Core ETP, affectionately known as ABBA. Yes, you read that right! ABBA is now cheaper than ever, just like grandma’s famous meatballs. 🍝💰
Starting from March 12, ABBA’s management fee will be reduced by a whopping 0.49%. This move is aimed at making the dual-product ETP more cost-effective and accessible for investors ahead of its listing on the prestigious Xetra exchange. Xetra, for those who don’t know, is one of Deutsche Börse’s largest trading platforms for exchange-traded products. 📈🎉
And what about the product itself? ABBA is fully backed by BTC and ETH, the two largest cryptocurrencies by market cap. It’s like having a double scoop of ice cream on a hot summer day. 🍦🔥 The product is also securely held in institutional-grade custody, so you can sleep soundly knowing your investments are safe and sound. 😴🔒
According to Mandy Chiu, Head of Financial Product Development at 21Shares, reducing the fees on ABBA and bringing it to Xetra are important steps in making Bitcoin and Ethereum more accessible through a trusted and regulated investment vehicle. “We want to make investing in crypto as easy as riding a bike,” said Chiu. “But without the risk of falling off.” 🚲💰
Last November, 21Shares introduced four crypto-backed ETPs to its Europe offerings, including Pyth Network (PYTH), Ondo (ONDO), Render (RENDER), and the Near Protocol (NEAR). And most recently, the firm filed an official S-1 application for a spot Polkadot (DOT) exchange-traded fund to the U.S. Securities and Exchange Commission on March 7. It seems that 21Shares is on a roll, folks! 🎢💰
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2025-03-12 14:00