21Shares has launched a new exchange-traded product (ETP) backed by Cronos (CRO), the native token of the Cronos blockchain linked to Crypto.com. The ETP started trading on Euronext Paris and Amsterdam on May 6, 2025. According to 21Shares, this listing gives investors in Europe exposure to the Cronos token through regular brokers and banks.
Cronos is a layer-1 blockchain connected to Crypto.com, a centralized crypto exchange. It supports decentralized finance (DeFi), NFTs, and Web3 applications. The blockchain works with Ethereum and Cosmos systems. The ETP allows investors to access CRO without managing digital wallets or crypto exchanges.
21Shares stated that the product offers a simple way for investors to hold Cronos token in a regulated format. The firm did not release details on management fees or plans to list on other exchanges.
Cronos Token Market Data and Blockchain Stats
Cronos token (CRO) had a market cap of approximately $2.4 billion on May 6, based on CoinMarketCap. Its fully diluted valuation (FDV) was close to $8.7 billion. Cronos ranks among the major exchange-affiliated blockchain tokens by market size.
The Cronos blockchain had a total value locked (TVL) of around $400 million, according to DeFiLlama. One of the main contributors to that figure is Crypto.com’s Staked ETH (CETH), a liquid staking product holding nearly $64 million on Cronos.
CRO’s price stood at $0.09291 on the day of the ETP’s launch. The chart shows the token peaked after earlier announcements but has since traded lower.
In a statement, Mandy Chiu, head of financial products development at 21Shares, said:
“By launching a Cronos ETP, we are offering investors […] regulated exposure to a blockchain ecosystem that is driving real-world adoption.”
The Cronos blockchain is built using the Cosmos SDK and Ethereum Virtual Machine (EVM), enabling compatibility across different networks and tools.
Cronos ETP Joins Altcoin Investment Product Wave
The Cronos ETP is the latest in a string of crypto products focused on exchange-linked tokens. On May 5, asset manager VanEck filed a proposal in the U.S. for a BNB ETF, which would track the native token of Binance’s blockchain. If approved, it would be the first BNB ETF in the U.S.
Meanwhile, 21Shares has already filed for other crypto ETFs in the U.S., including those tied to Dogecoin (DOGE), Solana (SOL), and Polkadot (DOT). These applications are still under review by the U.S. Securities and Exchange Commission (SEC).
In total, asset managers have submitted over 70 cryptocurrency ETF proposals in 2025. The surge followed a shift in the SEC’s approach to crypto after Donald Trump returned to office in January. While no altcoin ETF has been approved yet in the U.S., firms continue to push forward with new filings.
The Cronos ETP allows 21Shares to expand its presence in the European market, which remains more open to crypto-linked financial products. European investors now have access to regulated exposure to the Cronos token through the Paris and Amsterdam exchanges.
