21Shares AG (“21Shares”), the world’s largest issuer of cryptocurrency exchange traded products (ETPs), today announced its Crypto Winter Suite – a set of products designed to help investors weather the bear market. The first product introduced in the suite is the 21Shares Bitcoin Core ETP (CBTC), which launched today on SIX Swiss Exchange.
The 21Shares Bitcoin Core ETP is designed to offer low-cost exposure to Bitcoin, as the lowest cost physically-backed Bitcoin ETP in the world. CBTC has a total expense ratio of 21 basis points (0.21%) – selected to reflect the 21 million cap on Bitcoin – which is 44 basis points (0.44%) below the next lowest product on the market. The product will lend a portion of the underlying crypto on a fully collateralized basis to offset operating cost. Lending on CBTC will begin once the product achieves sufficient scale.
Beyond the 21Shares Bitcoin Core ETP, 21Shares will focus on building additional bear-market oriented products. The Crypto Winter Suite aims to provide investors with a variety of ways to enter the crypto ecosystem – whether that is at some of the lowest costs on the market for long-term strategic allocation, for shorter-term tactical allocation or in a more risk-controlled manner.
“Given the current market environment, many investors are looking to ‘buy-the-dip’ and generate the maximum potential long-term return,” said Arthur Krause, Director of ETP Product at 21Shares. “Our Crypto Winter Suite will provide ways for investors to dip their toes in the water at some of the lowest costs on the market.”
“While we’re experiencing a tougher market today, interest in the long-game of cryptocurrency has not wavered,” said Hany Rashwan, CEO and co-founder, 21Shares. “We’ve seen investor demand for low-cost exposure to this asset class – and the 21Shares Bitcoin Core ETP – the first product in our new suite – does just that, at the most competitive pricing in the world. Our bear-market products provide investors with a robust toolkit for navigating the challenging market environment.”
Today’s announcement follows 21Shares’ launch of the world’s first USD Yield ETP last month, preceded by the company’s entry into the United States with the launch of two new index funds, the release of a Layer1 Index ETP and DeFi ETP, and the world’s first Bitcoin and Gold ETP. Additionally, 21Shares recently published its sixth issue of its State of Crypto Report, which explores current trends in the crypto industry and what investors are doing to successfully optimize their crypto portfolios.
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