The Swiss company 21Shares has decided to close six cryptocurrency exchange products (ETPs) due to low demand. Writes about it CoinDesk.
According to a spokesperson for the firm, trading will cease on April 6:
- Crypto Layer 1 ETP;
- DeFi 10 Infrastructure ETP;
- S&P Risk Controlled Bitcoin Index ETP;
- S&P Risk Controlled Ethereum Index ETP;
- USD Year ETP.
The Terra Classic ETP tool will be available until June 12th. The sum of assets under management for all six products is less than $700,000.
“This is standard practice in the ETP industry. Although these [продукты] are in relatively low demand, we are seeing a constant high interest in others,” the source said.
In September 2022, 21.co, the parent company of 21Shares, raised $25 million in a funding round led by hedge fund Marshall Wace. Investors valued it at $2 billion.
Recall that at the beginning of 2023, the cryptocurrency ETP provider introduced a tool that monitors the performance of a basket of digital assets on the Proof-of-Stake algorithm.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
The Swiss company 21Shares has decided to close six cryptocurrency exchange products (ETPs) due to low demand. Writes about it CoinDesk.
According to a spokesperson for the firm, trading will cease on April 6:
- Crypto Layer 1 ETP;
- DeFi 10 Infrastructure ETP;
- S&P Risk Controlled Bitcoin Index ETP;
- S&P Risk Controlled Ethereum Index ETP;
- USD Year ETP.
The Terra Classic ETP tool will be available until June 12th. The sum of assets under management for all six products is less than $700,000.
“This is standard practice in the ETP industry. Although these [продукты] are in relatively low demand, we are seeing a constant high interest in others,” the source said.
In September 2022, 21.co, the parent company of 21Shares, raised $25 million in a funding round led by hedge fund Marshall Wace. Investors valued it at $2 billion.
Recall that at the beginning of 2023, the cryptocurrency ETP provider introduced a tool that monitors the performance of a basket of digital assets on the Proof-of-Stake algorithm.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
