- 21Shares AG to launch the world’s first $ADA and $XLM products ETPs.
- The design of ETPs is to replicate the performance of an underlying asset.
- ETP structure is 100% collateralized, AXLM and AADA have a 2.5% p.a base fee.
A Switzerland-based 21Shares AG has announced that it will soon be launching the world’s first $ADA and $XLM exchange-traded products (ETPs). It will be on the Swiss stock exchange (SIX Swiss Exchange). Also, consider one of the pioneers in issuing crypto ETPs.
The design of ETPs is to replicate the performance of an underlying asset. It’s a collateralized, non-interest paying debt security.
According to the 21Shares press release, the Swiss firm is thrusting these two ETPs (AADA and AXLM). In response to the recent surges of interest in these assets — on April 26.
The launches are acknowledging the recent surges of interest in these assets. More broadly, 21Shares has observed a 3-fold increase in demand across its suite of crypto ETPs. Since Q1 2021, the market drives institutional investors to choose 21Shares’ institutional-grade and open-ended ETPs.
However, AXLM and AADA will allow customers to expand and gain publicity to cross-border transitions between various currencies. While Cardano will support running smart contracts using proof of stakes on a level previously not possible to execute using your bank or broker.
Furthermore, the ETP structure is 100% collateralize, segregates, and replicates 1:1 the tracking of both crypto assets. Besides, AXLM and AADA have a 2.5% p.a base fee. Likewise, also be available on the Stuttgart and Dusseldorf MTFs.