21Shares launches ETP for Crypto.com's Cronos token

21Shares has launched an speech traded merchandise (ETP) successful Europe, providing investors with vulnerability to Crypto.com’s Cronos token, the plus manager said. 

The ETP is listed connected Euronext’s Paris and Amsterdam exchanges, 21Shares said successful a May 6 announcement. 

Cronos (CRO) is simply a layer-1 blockchain web affiliated with Crypto.com, a centralized exchange. 

The concatenation is designed to integrate with the Ethereum and Cosmos ecosystems and enactment “decentralised concern (DeFi), NFTs, and Web3 applications,” 21Shares said. 

The ETP aims to supply investors with a “straightforward mode to integrate CRO into their portfolios done accepted banks and brokers, eliminating the request to straight grip integer wallets oregon exchanges,” 21Shares said. 

The CRO token’s humanities performance. Source: CoinMarketCap

“By launching a Cronos ETP, we are offering investors […] regulated vulnerability to a blockchain ecosystem that is driving real-world adoption,” Mandy Chiu, 21Shares’ caput of fiscal products development, said successful a statement.

Related: Standard Chartered sees BNB much than doubling successful 2025

The CRO token has a marketplace capitalization of astir $2.3 cardinal and a afloat diluted worth (FDV) of astir $8.7 billion, according to data from CoinMarketCap. 

Cronos has a full worth locked (TVL) of astir $400 million, according to data from DeFiLlama. 

Its DeFi ecosystem includes Crypto.com’s liquid Ether staking token, Crypto.com Staked ETH, which has astir $64 cardinal successful TVL, the information shows. 

Cronos’ TVL. Source: DeFiLlama

Altcoin ETFs abound

On May 5, plus manager VanEck filed to database an exchange-traded money (ETF) successful the US tied to yet different exchange-affiliated token. 

The VanEck BNB ETF is the archetypal projected ETF successful the US holding BNB Chain’s autochthonal token, BNB. The concatenation is affiliated with Binance, the world’s largest centralized exchange. 

In the US, 21Shares has projected ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL). 

Asset managers are seeking the US Securities and Exchange Commission’s (SEC) permission to database upward of 70 cryptocurrency ETFs. 

The question of filings has travel arsenic a effect of US President Donald Trump softening the SEC’s regulatory posture toward crypto aft taking bureau successful January.

Magazine: Solana ‘will beryllium a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame