21Shares unveils four new European crypto ETPs

21Shares has added four ETPs to its European offerings as crypto fund issuers flood the region with more digital asset investment products.

On November 27, the Swiss asset manager introduced new exchange-traded products backed by four cryptocurrencies, including Pyth Network (PYTH), Ondo (ONDO), Render (RNDR) and Near Protocol (NEAR). 21Shares said its latest additions include price oracle, asset tokenization, decentralized computing and artificial intelligence, respectively.

Additionally, 21Shares will allow investors to reinvest staking rewards in NEAR into ETP. Near’s proof-of-stake blockchain model allows buyers to secure the network by locking tokens. The practice is called staking and provides returns to participants.

21Shares noted that reinvesting rewards can improve NEAR ETP performance and drive greater customer wins. All four ETFs will be available for trading on exchanges in Amsterdam and Paris, to name a few cities.

Big news: Four game-changing ETPs have been launched! We’re introducing our newest products focused on Oracle (PYTH), tokenization (ONDO), decentralized computing (RNDR), and artificial intelligence (NEAR). Learn more about each product at one of the links below. pic.twitter.com/szwt5LN17W

— 21Share (@21Share) 26 November 2024

21Shares accelerates European expansion

The additions to the 21Shares crypto ETP fleet were announced weeks after the Zug-based issuer sought regulatory clarity. In October, the fund manager called on European watchdogs to provide clear rules for retail and institutional digital asset product investors.

Although the Cryptocurrency Markets Regulation establishes rules for stablecoin operators and exchanges, a gap remains regarding ETFs and ETPs in Europe.

21Shares stated that the European Securities and Markets Authority could bridge the gap and provide a comprehensive framework for all EU member states.

Meanwhile, the fund issuer has benefited from flexible policies on crypto staking. In early November, Ethereum Core rebranded its ETP to include staking rewards. The product has been renamed Ethereum Core Staking ETP to reflect the change.