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21Shares Launching First Polkadot ETP on SIX Exchange
The Polkadot ETP (PDOT) will list on the Swiss SIX Exchange on Thursday.
Switzerland-based investment product provider 21Shares is launching the world’s first exchange-traded product (ETP) for the polkadot cryptocurrency.
STORY CONTINUES BELOW
- 21Shares, formerly known as Amun, said Tuesday the Polkadot ETP (ticker: PDOT) will list on the Swiss SIX Exchange on Feb. 4.
- The firm said the listing came about because it wanted to stay "ahead of the curve" amid a surge in interest for the cryptocurrency asset class.
- Founded by Ethereum co-founder Gavin Wood, Polkadot is a blockchain network that supports various interconnected sub-chains called parachains.
- Last Friday, Polkadot was added to the 21Shares HODL basket ETP as the second-largest constituent after bitcoin, replacing bitcoin cash. As such, 21shares took the decision to give the crypto asset its own ETP.
- Polkadot market capitalization is currently around $15 billion, putting DOT at fifth place in the cryptocurrency rankings, according to CoinMarketCap.
- “European investors are approaching us to launch new products based on other key crypto assets to enable them easy access without the need of a private key or unregulated wallets and exchanges,” said Hany Rashwan, CEO 21Shares AG.
- In the next three months, 21Shares aims to add more ETPs, as well as new European exchange listings.
Read more: Bitcoin ETP Listed on Europe’s Third-Largest Exchange
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
