21Shares AG, which claims to be the world’s largest issuer of cryptocurrency exchange traded products (ETPs) and a subsidiary of 21.co, unveiled the 21Shares Stacks Staking ETP (ASTX) – the “world’s first” ETP offering exposure to Stacks.
Stacks is “a crypto asset protocol that unlocks the full potential of Bitcoin as an infrastructure for smart contracts and decentralized applications.”
Stacks’ core vision is “to expand beyond Bitcoin’s principal use case as an emerging store-of-value asset and settlement infrastructure.” It is “one of the most promising crypto assets in the market today – currently valued at $1.57 billion, a small fraction of equally promising assets – and the 21Shares Stacks Staking ETP is the first way for investors to access this asset without holding it directly.”
Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares, said:
“ASTX provides a unique opportunity for investors, as there are currently no other investment products providing exposure to Stacks on the market. At 21Shares, we pride ourselves on continually bringing first-to-market products to investors in a safe and regulated manner. Our ETPs allow investors to access innovative and promising crypto assets through trusted investment vehicles.”
The 21Shares Stacks Staking ETP (ASTX) is available “for trading on BX Swiss exchange.”
Today’s product updates “follow investors’ continued interest in the asset class in the early part of 2023. 21Shares closed out its second best January in company history this year, and continues to see net new assets despite market events.”
In January 2023, the AUM for 21Shares’ Ethereum and Bitcoin ETPs (AETH and ABTC) both went “above $200M — which means 21Shares now has three ETPs with over $200M in AUM. Year-to-date so far, 21Shares has recorded $30M in net new assets.”
As noted in the update, 21.co claims it is “the world’s leader in providing access to crypto through simple and easy to use products.”
21.co is “the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties.”
The company was “founded in 2018 by Hany Rashwan and Ophelia Snyder.”
21.co is “registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit 21.co.”
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