In a major transfer for crypto funding accessibility, Swiss asset supervisor 21Shares has launched a brand new exchange-traded product (ETP) tied to the Cronos blockchain’s native token, CRO.
The 21Shares Cronos ETP, buying and selling beneath the ticker “CRON,” is now out there on Euronext Paris and Amsterdam exchanges. This product presents buyers regulated publicity to the CRO token with out the necessity to instantly handle digital wallets or navigate cryptocurrency exchanges.
Cronos, developed by Crypto.com, is a Layer 1 blockchain designed for interoperability with Ethereum and Cosmos ecosystems. It helps decentralized finance (DeFi), non-fungible tokens (NFTs), and numerous Web3 functions. The community goals to bridge centralized and decentralized platforms, facilitating a seamless consumer expertise throughout totally different blockchain environments
Mandy Chiu, Head of Monetary Merchandise Growth at 21Shares, highlighted the importance of this launch: “By introducing the Cronos ETP, we’re offering buyers with easy, regulated entry to a blockchain ecosystem that’s on the forefront of real-world adoption and Web3 innovation.”
As of now, Cronos boasts a complete worth locked (TVL) of roughly $409.8 million, reflecting its rising adoption within the DeFi house . The CRO token is at present buying and selling at round $0.09587, with a market capitalization of roughly $2.5 billion.
This launch is a part of a broader development the place asset managers are more and more introducing crypto-linked funding merchandise. Notably, VanEck has not too long ago filed for the primary U.S.-based ETF monitoring Binance’s BNB token, indicating a rising institutional curiosity in diversified crypto belongings.
The introduction of the 21Shares Cronos ETP represents a step ahead in integrating conventional monetary devices with the evolving cryptocurrency panorama, providing buyers new avenues to take part within the digital asset market.
