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21Shares Expands European Crypto Offerings with Four New ETPs
Swiss Wealth Manager Introduces ETPs Underpinned by Pyth Network, Ondo, Render, and Near Protocol
On November 27, 21Shares, a Swiss wealth manager, introduced four new exchange-traded products (ETPs) to its European offerings. These ETPs are underpinned by four cryptocurrencies: Pyth Network, Ondo, Render, and Near Protocol. The new additions cover various sectors, including price oracle, asset tokenization, decentralized computing, and artificial intelligence.
Reinvesting Staking Rewards with Near Protocol
21Shares will allow investors to reinvest staking rewards from NEAR into the ETP. The Near Protocol’s proof-of-stake blockchain model enables buyers to secure the network by locking tokens, a practice known as staking, which earns yield for participants. Reinvesting rewards could improve the NEAR ETP performance and deliver bigger customer gains.
Tradability and Availability
The four ETPs will be tradable on exchanges across Amsterdam and Paris, among other cities. This expansion marks a significant step in 21Shares’ European growth strategy.
Four game-changing ETPs just released! Introducing our newest products focused on oracles (PYTH), tokenization (ONDO), decentralized computing (RNDR), and artificial intelligence (NEAR).
Regulatory Clarity and European Expansion
The additions to the 21Shares crypto ETP fleet were announced weeks after the Zug-based issuer sought regulatory clarity in October. The fund manager urged European watchdogs to provide clear guidelines for retail and institutional digital asset product investors. Although the Markets in Crypto-Assets Regulation created rules for stablecoin operators and exchanges, a gap remains regarding ETFs and ETPs in Europe.
Tips for Investors:
- Stay informed about regulatory developments in the European crypto market.
- Consider diversifying your investment portfolio with ETPs underpinned by various cryptocurrencies.
- Understand the benefits and risks of staking rewards and reinvesting them into ETPs.
For more news and updates on the crypto market, visit Global Crypto News.
