Crypto News

21Shares To Launch World’s First Polkadot ETP On SIX

Polkadot exchange-traded product

Investment product provider 21Shares AG, previously known as Amun, has launched the world’s first Polkadot (DOT) exchange-traded product (ETP). This comes amidst the ongoing growing interest in decentralized finance as a whole.

21Shares, a Zurich-based issuer of Crypto ETPs, will be launching the DOT ETP on Swiss stock exchange SIX on February 4. This move comes on the heels of 21Shares adding DOT to its HODL basket. DOT is the second-largest constituent after Bitcoin in the product.

CEO of 21Shares AG, Hany Rashwan said “We remain committed to the unprecedented demand we are seeing from institutional investors wanting exposure to crypto-assets.” Rashwan added that investing in other crypto-assets is a natural transition from Bitcoin for investors. European investors have been approaching the company to launch new products.

21Shares New Polkadot Exchange

With this new Polkadot exchange, 21Shares is aiming to provide “exposure to the multi-chain application environment that enables cross-chain interoperability on a level previously not possible via their traditional broker or bank.”

The company has been seeing a 5-fold increase in demand across all of its crypto ETPs since 2020. With most of it coming from institutional investors. But they also noted that there has been a “recent surge in interest” in DOT.

But despite that rise in popularity for the DOT token. 21Shares says it is “not easy for non-technical users to buy and hold and interact with it”. Due to that, they believe they are lowering the barriers of entry for newcomers with this ETP.

21Shares added, “We are launching the DOT ETP to give investors a safe, regulated, and easy way to obtain exposure to this exciting new blockchain technology.”

DOT was created by Ethereum co-founder Gavin Wood. It is currently the fifth largest cryptocurrency with a market cap of $15.28 billion. In 2021 it has already seen an increase of 104%.

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Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

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