21Shares US LLC aims to expand investor access to cryptocurrency markets by filing for the registration of two index ETFs focused on leading digital assets.
What are 21Shares Index ETFs?
21Shares has applied with the SEC to launch two index ETFs: the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF. These indexes, developed in collaboration with FTSE Russell, aim to track the top ten cryptocurrencies by market capitalization, excluding Bitcoin in the latter case. CEO Hany Rashwan stated the goal is to provide diverse access for investors to digital assets.
Institutional Investment Growth Potential
Individual and institutional investors may benefit from broader crypto exposure, particularly in altcoins through the ex-BTC ETF. The indexes will be maintained and reviewed by 21Shares alongside FTSE Russell, ensuring rigorous standards and transparency.
Market Prospects and Analytics
According to CoinMarketCap, Bitcoin is trading at $118,192.69 with a market cap of $2.35 trillion and a dominance of 60.99%. Despite a 1.81% drop in the last 24 hours, Bitcoin has shown a 38.60% increase over 90 days, indicating its strong recovery since January. The Coincu research team notes that the approval of these ETFs could escalate institutional participation in cryptocurrency markets, possibly accelerating mainstream adoption.
21Shares' filing for crypto index ETFs highlights the growing interest of institutional investors in digital assets, which may lead to further developments in the crypto market.
