In a significant move, 21Shares has introduced four new exchange-traded products (ETPs) featuring prominent digital assets. This expansion is part of the firm’s strategy to diversify and extend its portfolio in the digital asset market.
What Are the New ETPs?
The new ETPs include offerings for Pyth (PYTH), Render (RENDER), Ondo Finance (ONDO), and Near Protocol (NEAR). Each product is fully backed by the respective tokens, ensuring direct exposure to these digital assets. The announcement was made on the social media platform X, highlighting the firm’s commitment to innovating within the crypto space.
How Are the Altcoins Performing?
Following the launch announcement, the four altcoins saw notable price increases, with RENDER and ONDO priced at $7.73 and $1.05, while PYTH and NEAR rose to $0.446 and $6.68, respectively. This market response reflects the growing interest in these assets.
Furthermore, developments are unfolding as Wisdom Tree signals its intent to file for an XRP ETF in Delaware, while 21Shares has also registered a similar product called “21Shares Core XRP Trust” with the U.S. SEC. XRP is currently trading at $1.47, marking a 6.52% increase linked to these ETF applications.
- The launch of new ETPs enhances market access for investors.
- Price rises indicate strong market interest in these assets.
- The initiatives by 21Shares and Wisdom Tree diversify investment options in digital assets.
These recent developments signal a growing trend towards making digital assets more accessible to a broader audience, potentially reshaping the investment landscape in the cryptocurrency sector.