21Shares Lists its S&P Risk Controlled Bitcoin and Ethereum Index ETPs
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S&P Risk Controlled Crypto Index ETPs
According to an official press release, 21Shares has listed its S&P Risk Controlled Bitcoin and Ethereum Index ETPs on the Swiss SIX Exchange today. It trades under the ticker symbol SPBTC and SPETH.
The ETPs will track the S&P Bitcoin Dynamic Rebalancing Risk Control 40% index and the S&P Ethereum Dynamic Rebalancing Risk Control 40% index.
Both the indexes aim to soften the volatility of Bitcoin and Ethereum through a rebalancing process that allocates more assets to the US dollar during periods of rising volatility by replicating the strategy of the benchmarks of S&P Dow Jones Indices (SPDJI).
Commenting on the development, Arthur Krause, Director of ETP Product at 21Shares, said:
"These newest ETPs based on S&P Dow Jones Indices world-class indices allow investors to realize the benefits of these innovative crypto exposures while controlling for volatility. These ETPs are the next step in our Crypto Winter Suite, providing investors with entry to the asset class in a risk-controlled manner."
The announcement comes following the launch of 21Shares' Bitcoin Core ETP, designed to offer low-cost exposure to Bitcoin as the lowest-cost physically-backed Bitcoin ETP in the world.
The firm also launched the world's first USD Yield ETP in May, following the launch of two new crypto ETFs in Australia and the world's first Bitcoin and Gold ETP on the SIX Swiss Exchange.