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21Shares to record Polkadot ETP on Swiss SIX trade

02/02/2021

21Shares’s Crypto Basket ETP has additionally changed Bitcoin Money with Polkadot.

21Shares, a serious supplier of cryptocurrency exchange-traded merchandise, or ETP, is launching the world’s first Polkadot (DOT) ETP.

The brand new product, DOT ETP, will probably be listed on the Swiss SIX trade on Feb. 4, 2021, 21Shares introduced Tuesday.

The brand new ETP comes shortly after Polkadot was added to 21Shares’ main ETP product Crypto Basket ETP (HODL) on Jan. 29. Monitoring 5 main cryptos like Bitcoin (BTC) and Ether (ETH), HODL has eliminated Bitcoin Money (BCH) and is now itemizing Polkadot because the second-largest constituent after Bitcoin.

In accordance with HODL ETP knowledge from MVIS indices, Polkadot now accounts for about 27% of the product, whereas Bitcoin makes up round 50% of the ETP.

A spokesperson for 21Shares advised Cointelegraph that the corporate doesn’t make selections on including or deleting a sure asset from the HODL ETP. The consultant acknowledged that such selections are as much as MV Index Options. “As an issuer, we can not resolve what so as to add and delete […] They’ve a committee which decides which constituents are added, elevated, diminished or outright taken out.”

Supply: MV Index Options

In accordance with the announcement, the addition of Polkadot to the 21shares Crypto Basket ETP makes it the “excellent timing so as to add a further single asset ETP to the already big selection of crypto ETPs” supplied by 21shares.

21Shares CEO Hany Rashwan emphasised that the corporate stays dedicated to the demand seen from institutional traders. “After traders buy their first Bitcoins by our ETPs, there’s a pure transition to put money into different crypto belongings,” Rashwan mentioned. He added that the agency plans so as to add two or three extra ETPs within the subsequent three months:

“We profit from trusted companions for the liquidity provision and upon continued institutional demand, we’re launching the DOT ETP to present traders a protected, regulated, and simple strategy to receive publicity to this thrilling new blockchain know-how. Within the subsequent 3 months, we purpose so as to add 2 to three extra progressive ETPs.”

Polkadot is a next-generation blockchain protocol connecting a number of specialised blockchains into one unified community. In mid-January 2021. Polkadot’s native token DOT made the headlines by overtaking XRP because the fourth-largest cryptocurrency. On the time of writing, DOT is buying and selling at $16.82, up practically 5% over the previous 24 hours and round 82% over the previous 30 days, in line with knowledge from CoinGecko.