21Shares AG, one of many main issuers of crypto exchange-traded merchandise (ETPs), introduced immediately that it’s launching the first-ever Polkadot ETP on the Swiss Inventory Trade (SIX Trade). The corporate additionally talked about that Polkadot was included within the 21Shares HODL basket ETP because the second-largest constituent just lately.
In line with the official announcement, the Polkadot ETP will enable purchasers to speculate and diversify their portfolios. The corporate talked about that it has seen a major surge in demand for crypto property just lately.
Polkadot is an open-source multi-chain protocol that enables cross-chain transfers of knowledge or property. It acts like a construction that enables in any other case unbiased blockchains to speak with one another.
Polkadot (DOT) is the fifth-largest cryptocurrency on the planet with a complete market cap of greater than $15 billion. DOT is at the moment buying and selling close to $17, up greater than 80% because the begin of 2021. The market cap of DOT jumped above Cardano, Litecoin, and Chainlink in January.
Commenting on the current announcement, Hany Rashwan, CEO of 21Shares AG, stated: “European traders are approaching us to launch new merchandise primarily based on different key crypto property to allow them quick access with out the necessity for a personal key or unregulated wallets and exchanges. We profit from trusted companions for the liquidity provision and upon continued institutional demand, we’re launching the DOT ETP to offer traders a protected, regulated, and straightforward option to get hold of publicity to this thrilling new blockchain expertise.”
Bodily Backed Polkadot ETP
The corporate talked about that each single share accessible within the Polkadot ETP will likely be backed by the bodily DOT tokens.
“The DOT ETP will enable purchasers to speculate, diversify by way of its varied ETPs, and acquire publicity to the multi-chain utility atmosphere that permits cross-chain interoperability on a stage beforehand not potential through their conventional dealer or financial institution. The ETP construction signifies that the product advantages from 100% bodily collateralization. As well as, on alternate liquidity provision is assured by our present ETP market markets who’ve supported us since inception again in November 2018. This enables much more conservative establishments to securely maintain this asset class through an Trade Traded Product,” the official announcement states.