21shares, a global leader in cryptocurrency exchange-traded products (ETPs), has successfully transitioned the underlying index provider for a broad segment of its European single-asset product suite to Kaiko Indices, an independent BMR-registered benchmark administrator, meeting the highest compliance requirements for institutional product issuance.
As the digital asset market matures, the requirement for granular, high-frequency data becomes essential for ensuring institutional-grade pricing. This strategic transition allows 21shares to leverage Kaiko’s specialised expertise in deep data for emerging protocols and “long-tail” assets. By utilizing Kaiko Indices’ methodology, specifically designed to navigate crypto markets inherently fragmented liquidity, 21shares ensures its ETPs maintain the highest level of pricing accuracy available in the market.
The operational integration was carried out seamlessly: tickers, ISINs, and product fees remain completely unchanged.
“Partnering with a crypto-experienced company like Kaiko Indices allows us to deliver a new level of pricing precision to our single-asset suite,” said Maneesh Gupta, Director of Product Development at 21shares. “By leveraging their extensive coverage and cryptocurrency expertise, we are ensuring our products meet the highest standards of data depth and accuracy. This transition reflects our ‘best-of-both-worlds’ strategy, which combines institutional-grade benchmarks with the technical agility required to navigate the nuances of decentralised finance.”
“21shares has consistently set the standard for accessible crypto investment products in Europe. By integrating Kaiko Indices’ pricing methodology into their European single-asset product suite, their investors now benefit from benchmarks specifically designed to capture accurate and reliable prices across fragmented markets – including for emerging assets where robust price discovery can be particularly challenging. Together, we are raising the bar for what investors should expect from institutional-grade ETPs,” said Anne-Claire Maurice, Managing Director, Quant Data at Kaiko Indices.
Key details of the transition:
- Precision through optimized exchange selection: Kaiko Indices ranks exchanges based on governance, liquidity, and data quality, ensuring superior pricing for assets where liquidity can be fragmented.
- Institutional standards: Kaiko Indices is a registered benchmark administrator with the France AMF, meeting the rigorous requirements of the EU Benchmark Regulation (BMR).
- Data continuity: the change is implemented on a prospective basis. All historical performance and NAV data remain a single, continuous track record as originally calculated.
With listings across Europe that include Euronext Paris, Euronext Amsterdam, London Stock Exchange, and SIX Swiss Exchange, 21shares is the issuer with the largest and most diversified crypto ETP suite globally. For more information, please visit www.21shares.com.
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