21Shares is introducing two new crypto exchange-traded products (ETPs), increasing its total offerings in Europe to 50 ETPs.
The new additions include the 21Shares Artificial Superintelligence Alliance ETP (AFET), which monitors a collection of decentralized AI protocols, such as Fetch.ai, SingularityNET, Ocean Protocol, and CUDOS, as well as the 21Shares Raydium ETP (ARAY). ARAY provides access to the token of the Solana-based decentralized exchange Raydium.
Both ETPs are token-backed and listed on major European exchanges. AFET is available on Euronext Amsterdam and Paris, while ARAY is traded on the SIX Swiss Exchange, according to a press release.
“With these new launches, 21Shares now provides investors with access to 50 physically backed crypto ETPs across Europe,” stated Duncan Moir, the firm’s president. The company oversees more than $11 billion in assets globally.
CoinDesk Indices, a division of CoinDesk, acts as the index provider for the 21Shares Raydium ETP, along with over 40 ETPs within 21Shares’ product range.
In 2018, 21Shares launched the first token-backed crypto ETP globally. Since then, it has broadened its exchange-listed product range to cover various sectors of the crypto ecosystem.
Although the number of crypto ETPs traded in Europe significantly exceeds those in the United States, they are overshadowed by trading volume and assets under management.
Currently, crypto ETPs in Europe hold around $23.24 billion in assets under management, as per ETFBook data, whereas spot bitcoin and ether ETFs in the United States boast over $174 billion in AUM.
