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Usha Yadav
May 12, 2022
by Usha Yadav

21Shares Has Introduced Layer 1 and DeFi ETPs

Layer 1 and DeFi ETPs
21Shares, a crypto-focused asset management company, has launched two ETPs that expose investors to the nuts and bolts of DeFi. On Thursday, the Swiss business listed its Layer 1 ETP (LAY1) on the SIX Swiss Exchange. On May 18, the 21Shares DeFi 10 Infrastructure ETP (DEFII) will be offered on the BX Swiss Exchange. LAY1 monitors an index produced by index provider Vinter, which comprises market value's 15 largest layer-1 blockchains. Each blockchain has a maximum weighting of 30% of the total allocation.

Vinter Focuses on DeFi

DEFII follows a Vinter index that focuses on DeFi (decentralized financial) apps and layer-1 blockchains, with each component accounting for half of the benchmark. Both kinds of assets are ranked by market capitalization and reweighted periodically. According to the company, 21Shares is the first issuer in Europe to introduce an ETP (exchange-traded product) based on a DeFi index. Investors can buy the goods across Europe, and 21Shares plans to cross-list them on other regional exchanges.

This year, 21Shares has introduced several ETPs, including those focusing on Aave (AAVE), Chainlink (LINK), and Uniswap (UNI). CEO Hany Rashwan stated earlier this year that the company plans to serve the top 50 cryptocurrencies by the end of the year. 21Shares recently introduced the first spot bitcoin and ether ETFs in Australia, while Carl Hagerup was hired to manage the company's Nordic and Dutch operations.

According to Snyder, 21Shares plans to create a Middle Eastern presence next month through Dubai, which introduced its first cryptocurrency legislation controlled by a new regulatory agency in March. Earlier this month, Dubai's crypto regulator said that it would open a virtual office in the metaverse.

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21Shares Layer-1 DeFi ETPs
21Shares Has Introduced Layer 1 and DeFi ETPs
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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