21Shares Expands Crypto ETP Offerings on Nasdaq Stockholm

21Shares Expands Crypto ETP Offerings on Nasdaq Stockholm

21Shares, a leading provider of crypto exchange-traded products (ETPs), is strengthening its footprint in Europe with the introduction of six additional funds on Nasdaq Stockholm, the Swedish stock exchange.

The firm announced the cross-listing of these products on Thursday, including ETPs focused on Aave (AAVE), Cardano (ADA), Chainlink (LINK), Polkadot (DOT), and two crypto basket products designed for diversified exposure.

With this expansion, 21Shares now boasts a portfolio of 16 ETPs listed on Nasdaq Stockholm. While significant, this represents only a portion of the broader range of products the company offers on other prominent European exchanges such as SIX Swiss Exchange, Deutsche Börse Xetra, and Euronext Amsterdam.

The launch follows closely on the heels of 21Shares' introduction of a Solana (SOL) exchange-traded fund (ETF) on Wednesday, adding to the growing number of SOL-related investment vehicles.

Currently, 21Shares manages approximately $8 billion in assets under management (AUM).

Alistair Byas Perry, Head of EU Investments at 21Shares, emphasized the sustained demand from Nordic investors: "We continue to see strong demand from Nordic investors seeking diversified, cost-efficient access to digital assets through regulated exchanges."

He further stated that this expansion will "enable 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.""

With listings spanning multiple exchanges in both Europe and the United States, 21Shares is a major player in the crypto ETP landscape. The firm's nearly $8 billion in global assets represents approximately 4% of the total $191.5 billion held in crypto ETFs worldwide.

Data from CoinShares indicates that roughly half of 21Shares' AUM is concentrated in US-based crypto ETFs, managed in partnership with Cathie Wood's ARK Invest.

The Proliferation of Crypto ETFs

21Shares' expansion into crypto ETPs comes amid a surge of new digital asset investment products entering the US market, highlighted by the recent debut of spot XRP (XRP) ETFs on the Nasdaq exchange.

Following Canary Capital's launch of the first spot XRP ETF, additional XRP-backed funds are expected to launch soon, including offerings from Bitwise and Grayscale. These launches are tentatively scheduled for today and Monday, respectively.

According to ETF expert Nate Geraci, XRP is now the sixth asset to serve as the foundation for a single-asset crypto ETF in the US, following Bitcoin (BTC), Ether (ETH), Solana, Litecoin (LTC), and Hedera (HBAR).

Despite the increasing optimism surrounding new crypto ETFs in the US, Bitcoin ETFs – the first wave of crypto funds that began trading in January 2024 – have experienced recent challenges.

On Tuesday, BlackRock’s iShares Bitcoin ETF (IBIT) recorded its largest single-day outflow, with over $520 million exiting the fund, according to Bloomberg ETF analyst Eric Balchunas.

After four consecutive weeks of outflows, year-to-date inflows into Bitcoin ETFs have declined to $27.4 billion, approximately 30% lower than the $41.7 billion recorded last year, according to data from CoinShares.