EddieJayonCrypto
6 May 25
Investment firm 21Shares launched an exchange-traded product (ETP) tracking Cronos, the native token of Crypto.com, providing investors regulated exposure without directly holding the asset. Cronos supports decentralized finance, NFTs, and Web3 applications and is compatible with Ethereum and Cosmos...
Investment firm 21Shares has launched a new exchange-traded product (ETP) providing regulated exposure to Cronos, the native token of Crypto.com. This innovative product allows investors to gain exposure without directly holding the asset, aiming to facilitate investments in blockchain ecosystems that drive real-world crypto adoption.Cronos supports decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 applications, and is compatible with Ethereum and Cosmos networks. The token was recently trading at $0.08636, reflecting a 1.54% dip in the past day.Mandy Chiu, head of financial products development at 21Shares, emphasized that the Cronos ETP offers investors an easy and regulated path to participate in a pioneering Web3 ecosystem. This launch fits into a broader trend as U.S. issuers increasingly seek regulatory approval for altcoin-based investment funds amid surging investor interest.Spot Bitcoin ETFs, approved last year, now manage over $100 billion in assets, while Ethereum-based funds control more than $7 billion. Buoyed by regulatory openness, issuers are exploring similar products for other altcoins such as Solana, AVAX, and Sui.Cronos has recently gained notable traction among asset managers. In a significant move, Trump Media and Technology Group announced plans to launch ETFs tracking Cronos and Bitcoin in partnership with Crypto.com. This announcement triggered a 30% price surge for Cronos, illustrating growing market enthusiasm.As the crypto investment landscape evolves, 21Shares’ Cronos ETP stands out as a promising vehicle for investors eager to tap into emerging blockchain ecosystems driving the future of decentralized finance and Web3 innovation.