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COINTURK NEWS > Cryptocurrency News > 21Shares Launches Four New ETPs to Expand Digital Asset Portfolio
Cryptocurrency NewsEconomy

21Shares Launches Four New ETPs to Expand Digital Asset Portfolio

In Brief

  • 21Shares introduced four new ETPs focused on leading digital assets.

  • Recent applications for XRP ETFs by Wisdom Tree and 21Shares emerged.

  • These developments enhance access to digital assets for more investors.

Ömer Ergin
Ömer Ergin 6 months ago
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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.

Contents
Details of the New ETPsOther Developments and XRP ETF Application

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 $2 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.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 28 November, 2024 - 7:14 pm 28 November, 2024 - 7:14 pm
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