21Shares added four ETPs to its Europe choices as crypto fund issuers flooded the area with extra digital asset funding merchandise.
On Nov. 27, the Swiss wealth supervisor launched new exchange-traded merchandise underpinned by four cryptocurrencies, together with Pyth Network (PYTH), Ondo (ONDO), Render (RNDR), and the Near Protocol (NEAR). 21Shares stated that its newest additions lined value oracle, asset tokenization, decentralized computing, and synthetic intelligence, respectively.
Also, 21Shares will enable traders to reinvest staking rewards from NEAR into the ETP. Near’s proof-of-stake blockchain mannequin permits consumers to safe the community by locking tokens. The follow is named staking and earns yield for individuals.
21Shares famous that reinvesting rewards may enhance its NEAR ETP efficiency and ship larger buyer features. All four ETFs can be tradable on exchanges throughout Amsterdam and Paris, to call just a few cities.
Big information: Four game-changing ETPs simply launched! Introducing our latest merchandise targeted on oracles (PYTH), tokenization (ONDO), decentralized computing (RNDR), and synthetic intelligence (NEAR). Find out extra about every product and both of the hyperlinks beneath. pic.twitter.com/szwt5LN17W
— 21Shares (@21Shares) November 26, 2024
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21Shares pushes European enlargement
Additions to the 21Shares crypto ETP fleet have been introduced weeks after the Zug-based issuer sought regulatory readability. In October, the fund supervisor urged European watchdogs to offer clear tips for retail and institutional digital asset product traders.
Although the Markets in Crypto-Assets Regulation created guidelines for stablecoin operators and exchanges, a spot stays concerning ETFs and ETPs in Europe.
21Shares opined that the European Securities and Markets Authority may bridge the hole and supply a complete framework for all EU member states.
In the meantime, the fund issuer leveraged versatile insurance policies on crypto staking. Earlier in November, it rebranded its Ethereum Core ETP to incorporate staking rewards. The product was renamed the Ethereum Core Staking ETP to replicate the change.
Read extra: Crypto ETF issuer Bitwise rebrands XRP ETP with Ripple’s backing
