21Shares, a major crypto exchange-traded product (ETP) provider, is expanding its offerings in Europe with the launch of six more funds on Sweden’s stock exchange, Nasdaq Stockholm.
21Shares on Thursday announced the cross-listing of six additional products on Nasdaq Stockholm, including ETPs for Aave (AAVE), Cardano (ADA), Chainlink (LINK), Polkadot (DOT) and two crypto basket products.
With the expansion, 21shares now offers a total of 16 ETPs on Nasdaq Stockholm, which is just a fraction of multiple offerings available on other European exchanges like SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam and more.
The new launches came the next day after 21Shares launched the Solana (SOL) exchange-traded fund (ETF) on Wednesday, adding to a series of SOL ETF launches.
21Shares manages $8 billion in AUM
“We continue to see strong demand from Nordic investors seeking diversified, cost-efficient access to digital assets through regulated exchanges,” 21Shares’ head of EU investments, Alistair Byas Perry, said.
“This expansion enables us to offer an even broader toolkit of single-asset and index-based crypto ETPs, giving both retail and institutional investors the ability to tailor their digital asset exposure within a trusted and transparent framework,” he added.
The list of newly launched 21Shares crypto ETPs on Nasdaq Stockholm. Source: 21Shares
With listings on multiple exchanges in Europe and the US, 21Shares is one of the largest crypto ETP providers, managing nearly $8 billion in assets globally, which accounts for roughly 4% of the total $191.5 billion in crypto ETFs issued worldwide.
According to CoinShares data, roughly half of 21Shares’ AUM is held in US crypto ETFs, issued in partnership with Cathie Wood’s ARK Invest.
Crypto ETF/ETP issuers in Europe and the US by year-to-date inflows and AUM as of Monday. Source: CoinShares
Many, many crypto ETFs
The crypto ETP expansion by 21shares comes amid a wave of new crypto funds flooding the US market, with spot XRP (XRP) ETFs debuting on the Nasdaq exchange last week.
Following Canary Capital’s launch of the first spot XRP ETF, more XRP funds are expected to debut in the coming days, including ETFs from Bitwise and Grayscale, scheduled to launch today and Monday, respectively.
Source: James Seyffart
According to ETF expert Nate Geraci, XRP became the sixth asset to underpin a single-asset crypto ETF in the US, following Bitcoin (BTC), Ether (ETH), Solana, Litecoin (LTC) and Hedera (HBAR).
Although optimism around new US crypto ETFs has been on the rise, Bitcoin ETFs, the gateway crypto funds that debuted trading in January 2024, have struggled recently.
Related: US Bitcoin ETFs snap five-day bloodbath as BTC reclaims $92K
On Tuesday, BlackRock’s iShares Bitcoin ETF (IBIT) saw its worst day of outflows ever, with more than $520 million leaving the fund, according to Bloomberg ETF analyst Eric Balchunas.
After four consecutive weeks of outflows, year-to-date inflows in Bitcoin ETFs dropped to $27.4 billion, about 30% below last year’s total of $41.7 billion, according to CoinShares data.
Magazine: Saylor denies Bitcoin sell-off, XRP ETF debut tops chart: Hodler’s Digest, Nov. 9 – 15
