- Cronos ETP provides regulated access to Crypto.com’s Cronos token.
- Cronos network supports DeFi, NFTs, and Web3 applications.
- 21Shares expands its portfolio with more altcoin-based investment products.
21Shares, a Swiss asset management firm, has launched a new exchange-traded product (ETP). The ETP, which is listed on Euronext Paris and Amsterdam, provides investors with regulated access to Crypto.com’s Cronos (CRO) token. The ETP enables institutional investors to access CRO through traditional brokers and banks.The provides investors with easier access to the Cronos blockchain without digital wallets or exchanges.
21Shares Cronos ETP
The Cronos token runs on the Crypto.com’s Layer-1 blockchain, Cronos network. The comprises decentralized finance (DeFi), NFTs and Web3 applications as well as integrates with Ethereum and Cosmos ecosystems. Cronos ETP, a regulated investment product, offers secure access to the blockchain network.
The Cronos ETP launch demonstrates the increased demand for crypto-based investment products. 21Shares aims to provide novice crypto investors easier access to digital assets.The ETP charges a 2.5% annual management fee and seeks to fulfill the market demand for regulated crypto exposure in the European and U.S. markets.
The Cronos network has made major advancement in decentralized finance (DeFi). The blockchain boasts $400 million in total value locked (TVL), with $64 million from Crypto.com’s liquid Ether staking token, Staked ETH. The platform continues to attract both individual and institutional customers.
Altcoin-based ETF Race
21Shares has launched several crypto-linked ETPs in Europe as part of its efforts to expand its product lineup. Moreover, the company has filed for U.S. Securities and Exchange Commission (SEC) approval to launch multiple altcoin-based exchange-traded funds (ETFs) such as Solana and Dogecoin.
There is increased interest in altcoin-based exchange-traded funds(ETFs) in recent months. U.S. issuers and asset managers have filed several ETF proposals in a bid to replicate Bitcoin ETF success. The 2024 approval of spot Bitcoin ETFs has increased the demand for these products with more than $100 billion in assets under management.
The SEC’s acceptance of crypto-based financial products could accelerate the market adoption of altcoin ETFs.
Institutional Interest in Crypto-based Investment Products
Asset managers expect products like the Cronos ETP to provide mainstream investors with access to crypto investments amid the increased interest in blockchain assets. Moreover, the Cronos ETP satisfies the increased demand from regulators for crypto products which adhere to traditional financial standards.
The ETP offers investors exposure to the Cronos blockchain as well as its NFT and DeFi ecosystems. The ETP has been listed on several major exchanges in Europe demonstrates the increased institutional interest in blockchain investments.