21Shares launches two crypto ETPs for accredited US investors

Leading cryptocurrency exchange-traded products (ETP) firm 21Shares has expanded into the United States, launching two new index funds via an affiliate platform.

Through 21Shares US Advisers LLC, the company will offer accredited investors access to investment vehicles tied to top cryptocurrencies by market cap.

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21Shares’ entry into the US

Investors in the US can choose to get crypto exposure via the firm’s new index funds. The 21 Shares Crypto Basket 10 Index Fund will track the top 10 crypto assets by market cap, with most allocation into Bitcoin (BTC) and Ethereum (ETH).

As for the 21Shares Crypto Mid-Cap Index Fund, investors will get exposure via cryptos ranked 3-10 by market cap on US-based exchanges.

21Shares said in a press release Wednesday that rebalancing and reconstitution for the two funds will occur on a quarterly basis.

Hany Rashwan, the co-founder and Chief Executive Officer of 21Shares said in a comment:

21Shares has built a globally-recognized portfolio of crypto products over the past four years. Today, we’re proud to expand access to our reputable and proven brand with our launch into the US market.

According to him, expanding into the US allows accredited investors to add crypto assets to their existing portfolios. The funds will also help offer a diversification vehicle for crypto holders.

The expansion into the US follows 21Shares’ entry into Australia and the launch of its Bitcoin and Gold ETP in Europe.