Fun

Crypto Firm to Launch Polkadot ETP on Swiss Exchange SIX

News Feed - 2021-02-03 02:02:38

Crypto Firm to Launch Polkadot ETP on Swiss Exchange SIX


21Shares AG, a Zurich-based investment provider, is launching what is being dubbed as the world’s first Polkadot exchange-traded product, or ETP.


The DOT ETP will be listed on the Swiss exchange SIX on Thursday, February 4, said the company in a statement on Tuesday. DOT is the native token of the Polkadot network.


DOT has since been added to 21Shares’ Crypto Basket ETP (HODL), which tracks five major assets including bitcoin (BTC) and ethereum (ETH). Since its addition on Jan. 29, DOT now accounts for 27% of the product behind BTC at 50%.


Hany Rashwan, chief executive officer of 21Shares, said the firm has seen “unprecedented demand” from institutional investors wanting exposure to crypto-assets. He stated that demand for its range of crypto ETPs has soared 500% since the third quarter of 2020, but there has been “a recent surge in interest” for DOT.


“After investors purchase their first bitcoins through our ETPs, there is a natural transition to invest in other crypto assets,” Rashwan detailed.


“We benefit from trusted partners for the liquidity provision and upon continued institutional demand, we are launching the DOT ETP to give investors a safe, regulated, and easy way to obtain exposure to this exciting new blockchain technology,” he added.


Rashwan revealed that 21Shares, an issuer of exchange-traded products, is planning to add up to three ETPs over the next 3 months. He said European investors have been approaching the company to launch new products.


Created by Ethereum co-founder Gavin Wood, Polkadot is a cross-blockchain that enables transfers of any type of data or asset, not just tokens. It is also used as an electronic payment system.


DOT is now the world’s fifth-largest cryptocurrency, boasting a market capitalization of $16.55 billion, according to data from markets.Bitcoin.com. At the time of writing, DOT is trading at $17.22, up 8% over the past 24 hours.


What do you think about the Polkadot ETP? Let us know in the comments section below. Dogecoin Cofounder Faces Harassment While "Meme Coin" Hype Trends Among Investors ALTCOINS | 1 day ago XRP Displaces Polkadot Token After Price Soars 100% in 48 Hours: Token Next Pump Target for Satoshistreetbets Traders ALTCOINS | 2 days ago Tags in this story 21Shares AG, Bitcoin, Gavin Wood, Hany Rashwan, Polkadot ETP, six exchange, Zurich


Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Samsung SDS Pilots Blockchain-Based Medical Insurance Network
Samsung SDS, an IT solution developer partially owned by the South Korean tech conglomerate, is expecting to roll out a blockchain-based medical claims processing system this month.
Disclosures Show Shopify’s CEO Bought $3M Worth of Coinbase Shares During the Past 2 Months
Disclosures Show Shopify"s CEO Bought $3M Worth of Coinbase Shares During the Past 2 Months Public records show that Shopify’s CEO Tobias Lütke has purchased close to $
SUI Price Soars Despite Overbought RSI – Can The Rally Sustain?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Crypto.com pairs up with Latin America’s biggest investment bank in stablecoin push
Ezra Reguerra10 hours agoCrypto.com pairs up with Latin America’s biggest investment bank in stablecoin pushCrypto.com will promote the BTG Dol stablecoin by pairing it with digital assets like Bitcoin and Ether on its
Solana-Powered Defi Platform Orca Raises $18 Million — AMM Commands Over $300 Million TVL
Solana-Powered Defi Platform Orca Raises $18 Million — AMM Commands Over $300 Million TVL The decentralized exchange (dex) platform Orca has announced the platform has raised $18
Car Manufacturer Maruti Suzuki Launches Metaverse Showroom Experience in India
Car Manufacturer Maruti Suzuki Launches Metaverse Showroom Experience in India Maruti Suzuki, one of the biggest car manufacturers in India, has announced that it is taking its cus
Sao Paolo Introduces Blockchain in Data Access Law
Sao Paolo Introduces Blockchain in Data Access Law The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law. The c
ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion
ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion usi
Have altcoins hit the bottom? Bitcoin price bounces 5% from $59.7K low
William Suberg11 hours agoHave altcoins hit the bottom? Bitcoin price bounces 5% from $59.7K lowBitcoin is attempting to reclaim support after dipping below $60,000, while traders dare to dream of an altcoin rebound.3370
Biggest Movers: DOGE, ADA Nearly 10% Higher, as AXS Leads Today’s Gainers
Biggest Movers: DOGE, ADA Nearly 10% Higher, as AXS Leads Today"s Gainers DOGE was higher during today’s session, as it was reported that a Bitcoin ATM operator added the to
Was sub-$60K a bear trap? 5 things to know in Bitcoin this week
William Suberg37 minutes agoWas sub-$60K a bear trap? 5 things to know in Bitcoin this weekBitcoin teases a return of the bull market as the monthly and quarterly close save BTC price action from a major trend loss.296 T
1 Cent per Kilowatt-Hour: China’s Sichuan Province Encourages Hydro-Powered Bitcoin Mining
1 Cent per Kilowatt-Hour: China"s Sichuan Province Encourages Hydro-Powered Bitcoin MiningThe local government of Ya’an city, in China’s Sichuan province, has announced