21Shares US LLC has filed applications with the U.S. SEC to launch two cryptocurrency index ETFs focused on major cryptocurrencies.
21Shares Introduces New Crypto Index ETFs
21Shares has registered two new ETFs with the SEC, specifically targeting digital assets. These applications for the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF offer extensive opportunities for investors. Partnering with index provider FTSE Russell and adviser Teucrium spurs the integration of both traditional and digital markets.
Features of the New ETFs from 21Shares
One significant aspect of these applications is the exclusion of Bitcoin from one of the ETFs, reflecting investor interest in altcoins like Ethereum. By following a market-cap-weighted structure, these ETFs open new pathways for investment. Both applications demonstrate a trend of integrating crypto assets within familiar structures for U.S. markets, creating opportunities for new capital inflows.
The Altcoin Market Gains Momentum
Interest in diversified crypto exposure, particularly regulatory-compliant vehicles, remains strong among investors. This step by the firm utilizing the ‘40 Act framework signals a shift toward integrating crypto into traditional financial structures. Ethereum, priced at $3,808.49 with a market cap of $459.73 billion, continues to show robust growth, highlighting increasing interest in altcoins.
The filing of ETFs by 21Shares may simplify investor access to diversified crypto assets and enhance market stability, thereby contributing to increased liquidity and market confidence.
