21Shares Expands European Presence with Three New Crypto ETP Listings on Nasdaq Stockholm

21Shares has added three of its cryptocurrency-backed exchange-traded products (ETPs) to the Nasdaq Stockholm exchange, further solidifying its presence in European markets.

As per an official announcement, the issuer of exchange-traded products has introduced three new ETPs on the Nasdaq Stockholm exchange. Currently, the company has products listed on 11 major exchanges, including Nasdaq, Euronext Amsterdam, and SIX Swiss Exchange.

One of the newly listed products on Nasdaq Stockholm is the 21Shares Bitcoin Core ETP or CBTC. This product provides users with exposure to an investment vehicle that is fully-backed by Bitcoin (BTC). Additionally, the product boasts a management fee of only 0.21%. According to the company, CBTC is recognized across Europe as one of the "most cost-effective Bitcoin ETPs."

The firm has also listed its Solana Staking ETP, ASOL. As of now, ASOL is the largest Solana (SOL) staking ETP in the region. This product allows investors seeking exposure to Solana to earn yields from its returns while also capitalizing on advancements in blockchain technology. By investing in ASOL, investors can explore various sectors of the blockchain, including gaming, finance, and identity protection.

Lastly, the firm has introduced 21Shares XRP ETP or AXRP on Nasdaq Stockholm. Similar to the previous two ETPs, AXRP is fully-backed by XRP (XRP), providing investors with exposure to XRP without holding it directly. Moreover, traders can explore its potential for facilitating cross-border payments, as XRP is known for its ability to bridge currency for such transactions.

Mandy Chiu, Head of Financial Product Development, stated that institutional adoption of crypto-backed ETPs is rapidly increasing across Europe, as more and more countries in the region are seeking clearer regulatory guidelines.

"This year represents a breakthrough moment for crypto in Europe, with increasing confidence driven by the MiCA regulatory framework and a significant rise in institutional participation,” said Chiu.

Helena Wedin, Head of ETF and ETP, European Markets at Nasdaq, confirmed Chiu's sentiments, stating that there is a growing demand for ETPs in the European market. This provides ETP issuers with an opportunity to fill the market gap.

"As the market for crypto ETPs continues to expand, we are pleased to provide investors with more locally listed, cost-efficient, and innovative products," said Wedin.

Earlier this month, Nasdaq submitted a filing for 21Shares' Polkadot exchange-traded fund to the U.S. Securities and Exchange Commission. If approved, the Polkadot ETF would be listed on Nasdaq, providing investors exposure to DOT (DOT).

21Shares is one of the world's first and largest issuers of crypto exchange-traded products. The firm launched its first physically backed crypto ETP, HODL, on the SIX Swiss Exchange in 2018 and has issued over 30 ETPs since then. Currently, the firm manages over $7.5 billion in assets.