Switzerland-based investment product company 21Shares is releasing the world’s first Polkadot cryptocurrency exchange-traded product (ETP).21Shares, formerly known as Amun, revealed Tuesday that on February 4, the Polkadot ETPwould be listed on the Swiss SIX Exchange.
According to coindesk.com, the business said the listing came in because the cryptocurrency asset class decided to remain “ahead of the curve” in the middle of an increase in interest.
Polkadot is a blockchain network created by Ethereum co-founder Gavin Wood that supports multiple interconnected sub-chains called parachains.Polkadot was introduced as the second largest constituent after bitcoin to the 21Shares HODL basket ETP last Friday,replacing bitcoin cash.As such, the decision to give the crypto asset its own ETP was accepted by 21shares.
The market capitalization of Polkadot is currently about $15 billion, according to CoinMarketCap, placing DOT in fifth position in the rankings of cryptocurrencies.“
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,” said Hany Rashwan, CEO 21Shares AG.