21Shares Introduces Crypto Staking ETP On BX Swiss

[ad_1]

21Shares recently announced its operation on the local stock exchange known as BX Swiss. This event recently occurred as the company released a digital currency staking index that primarily tracks about 10 Proof-of-Stake (PoS) cryptocurrencies.

Primarily, 21Shares specializes in creating and managing exchange-traded products (ETPs) that track the value of various cryptocurrencies. A few examples are Bitcoin and Ethereum. The company provides investors with an easy and convenient way to invest in cryptocurrencies through traditional financial markets.

Some of its activities include creating and listing ETPs on stock exchanges, managing their underlying assets, and providing investors with market data and other information.

Introduction Of 21Shares ETPs On BX Swiss Exchange

After releasing the Staking Basket Index ETP with the STAKE ticker, they immediately began trading on BX Swiss, a local stock exchange. Following the launch, the ETPs could track up to 6 cryptocurrencies, including Cardano, Binance Coin, Polkadot, Cosmos, Tezos, and Solana.

The addition of the STAKE ETP has brought the total number of digital currencies ETPs from 21Shares and 21.co to 47. In the meantime, about 12 exchanges in 9 different countries now offer ETPs.

Through these products, investors can gain more exposure to the crypto space in a safe environment. Additionally, ETPs serves as an excellent alternative to regular digital currency investment.

Details On Exchange-Traded Product

Exchange-traded products (ETPs) are securities that track an underlying asset, such as an index, commodity, or currency. Crypto traders and investors can perform transactions with these instruments on stock exchanges, like stocks they buy and sell throughout the trading day.

Generally, ETPs come in various forms, including exchange-traded funds (ETFs), exchange-traded notes (ETNs), and commodity-based trust exchange-traded funds (ETCs). However, ETFs are the most common type of ETP, and they typically track an index such as the S&P 500.

ETNs, on the other hand, are debt securities that track a particular index or benchmark. Furthermore, ETCs are similar to ETFs, but they track the price of a commodity, such as gold and oil.

More Reports On 21Shares ETPs

Exchange-traded products offer investors a cost-effective way to gain exposure to diverse assets and markets. Investors can get more value with the STAKE ETP through the assets of the ETPs, which allows them to generate side income.

According to the ETP director at 21.co, Arthur Krause, this advantage could help them contribute to the network’s security.

Meanwhile, the idea of STAKE ETP has been in the pipeline; its release followed the staking experiments of ETPs from 21Shares after a few years. In 2019, the firm first introduced the Tezos ETP, and in June 2021, it launched the Solana ETP.

21Shares Introduces Digital Currency Staking ETP On BX Swiss Exchange
SOL price trends positively on 24-hour candle l SOLUSDT on Tradingview.com

2022 was an unfavorable year for both products, recalling the broad decline of the digital currency market. The event resulted in the significant loss of their values throughout this period.

Moving on to 2023, both ETPs displayed a notable positive turn in their values. From the start of the year, ASOL has surged by about 78%. AXTZ, on the other hand, has increased by 38%, showing a solid start.

Featured Image From Pixabay, Charts From Tradingview

[ad_2]
#21Shares #Introduces #Crypto #Staking #ETP #Swiss

mrB

Related Posts

Sequoia Capital, Paradigm among VCs facing ‘tricky’ FTX investor lawsuit

[ad_1] Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform suggesting their efforts added an “air of legitimacy” to the…

IND vs AUS: Shreyas Iyer declared fit for the second Test; Jasprit Bumrah to miss the ODIs as well

[ad_1] India’s star batter Shreyas Iyer who did not play the first Test between India and Australia due to a lower back injury, has been declared fit…

Sen. Warren vows reintroduction of AML bill that extends to DAOs and DeFi

[ad_1] A bi-partisan anti-money laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and DAOs will soon be reintroduced to Congress, according to…

IND vs AUS: “I Had A Tough Time, Dale Steyn And Morne Morkel Were At Their Peak”

[ad_1] Indian batter Cheteshwar Pujara will play his 100th Test match against Australia at the Arun Jaitley Stadium in Delhi starting Friday, February 17. And ahead of…

Dogecoin, Shiba Inu Soar As Elon Musk Announces Twitter CEO

[ad_1] Elon Musk, who is still searching for a new Twitter CEO, jokingly introduced a dog as Twitter’s new CEO, sending the prices of Dogecoin, Shiba Inu…

Chetan Sharma’s sting operation: Here are the startling revelations made by Team India’s chief selector

[ad_1] Former India cricketer and current chief of the BCCI selection committee Chetan Sharma has made some shocking revelations in a massive sting operation conducted by Zee…

Leave a Reply

Your email address will not be published. Required fields are marked *