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First Polkadot ETP To Launch On SIX Exchange

First Polkadot ETP To Launch On SIX Exchange

Having added Polkadot to its crypto index, 21Shares announced that they would be launching an exchange-traded product (ETP) for DOT on the Swiss Exchange – SIX.

This will be the first-ever ETP for the parachain network.

PDOT ETP Details

Polkadot was recently added to 21Shares, formerly known as Amun. The product is known as “HODL,” which gives users access to a basket of leading cryptocurrencies like Bitcoin and Ethereum. As things stand, Polkadot has a weightage of 26.79% in the basket, second only behind Bitcoin. The PDOT ETP gives users complete exposure to Polkadot alone and is aimed at retail investors. According to 21Shares, this listing came about since they want to be "ahead of the curve" and keep pace with the recent surge in cryptocurrency interest, especially among European investors.

Hany Rashwan, CEO 21Shares AG, said about the listing:

“European investors are approaching us to launch new products based on other key crypto assets to enable them easy access without the need of a private key or unregulated wallets and exchanges.” 

What is Polkadot?

Founded by Ethereum co-founder Gavin Wood, Polkadot is the fourth largest coin globally with a market cap north of $15 billion, as per CoinMarketCap. It is a major blockchain network that supports various interconnected sub-chains called parachains. Some of the more well-known parachains include Moonbeam and Polkadot’s DeFi parachain – Acala Network. While Polkadot’s main aim is to increase interoperability, it can potentially become a significant DeFi alternative to Ethereum.

What is 21Shares?

21Shares is a cryptocurrency investment company that allows investors to be a part of the crypto asset class. They are a Swiss company registered in Zug, Switzerland, with offices in Zurich, New York City, and Berlin. As of now, they offer eleven crypto exchange-traded products available in CHF, EUR, GBP, & USD across Europe. Plus, in the next three months, 21Shares will add more ETPs, as well as new European exchange listings.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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