Yahoo Finance 21Shares to List Decentraland, AAVE, FTT ETPs in Paris and Amsterdam
21Shares, one of the world’s largest issuers of cryptocurrency ETPs announced the listing of three new crypto ETPs for Decentraland, AAVE, and FTX Token on Euronext exchanges in Paris and Amsterdam.
New ETPs, Higher Exposure
As per data, 21Shares manages more than $2 billion in 28 cryptocurrency ETPs and has over 100 listings. The asset manager claims to have the world’s only ETPs tracking Binance, while having four Crypto Index Baskets, and two ETPs with investor staking rewards (Tezos and Solana).
Exchange-traded products are expected to enable market players to get exposure to the crypto assets without the need to own the underlying assets. According to the official press release by 21Shares, Decentraland ETP, Aave, and 21Shares FTX Token ETP will soon be listed on Euronext Paris and Amsterdam.
The performance of the ETPs will be directly linked to the tokens without leverage, while 21Shares will hold the underlying assets in its cold storage. Just last week, 21Shares announced listing MANA and FTT on the Swiss-based BX exchange.
Commenting on the development, the CEO and co-founder of the firm, Hany Rashwan was quoted as saying that adding the world’s first NFT and single Metaverse ETP was one of the company’s key milestones.
That said, these ETPs aim to increase larger market exposure making cryptocurrency investments accessible and available for the crowds. For now, the recent listings of MANA, AAVE, and FTT are set to happen on Euronext exchanges in Paris and Amsterdam.
MANA, AAVE, FTT Price
Decentraland (MANA) emerged as one of the most established tokens in the metaverse ecosystem, with a market cap of almost $6 billion. AAVE, on the other hand, is an Ethereum token that drives decentralized non-custodial money market protocol, Aave. FTT is the native token of FTX exchange.
Price-wise, BTC’s recent fall close to the $40K mark has pulled down the larger market cap to $1.87 trillion, affecting most of the top altcoins.
MANA, AAVE, and FTT too under the larger market effect couldn’t reap the benefit of the recent ETP announcement as their price noted losses of 3.20%, 7.34%, and 4.3% respectively, at press time.
With ETPs and ETFs taking over the market, a higher adoption in the mid-short term could be expected. Recently, asset manager Fidelity International also announced the launch of its spot Bitcoin ETP in Europe, which was dubbed as the world’s cheapest BTC ETP.
This article was originally posted on FX Empire
