The crypto product firm 21Shares has introduced new exchange-traded products (ETPs) centered around four leading digital assets. This initiative is seen as a strategic effort to broaden the company’s digital asset portfolio.
Details of the New ETPs
In a statement made via the social media platform X, 21Shares announced the launch of ETPs for Pyth (PYTH), a provider of Oracle services; Render (RENDER), a decentralized graphics processing protocol; Ondo Finance (ONDO), which focuses on real-world assets; and Near Protocol (NEAR), a layer one blockchain. Each ETP is reportedly 100% physically backed by the associated token.
Following the announcement of the new ETPs, all four altcoins experienced price increases. As of the announcement, RENDER and ONDO were trading at $7.73 and $1.05, respectively, while PYTH and NEAR reached values of $0.446 and $6.68.
Other Developments and XRP ETF Application
Earlier this week, another asset manager, Wisdom Tree, announced its intention to file for an ETF focused on XRP, associated with Ripple 
$1 Labs’ payment platform, in the state of Delaware. Additionally, 21Shares has also submitted a registration for an ETF for XRP to the U.S. Securities and Exchange Commission (SEC). The proposed product will be named “21Shares Core XRP Trust,” although a launch date has yet to be specified.
As of this writing, XRP was trading at $1.47, reflecting a 6.52% increase over the last 24 hours. This surge is linked to XRP’s ETF applications and other recent developments.
The moves by 21Shares and Wisdom Tree enable digital assets to reach a broader investor base through financial products. These developments are seen as having the potential to enhance diversity and accessibility in cryptocurrency markets.
The new ETPs launched by 21Shares facilitate greater access to digital assets for a wider range of investors. This step strengthens the company’s market position while providing diversified investment opportunities for investors.
