21Shares Files with SEC for Two Cryptocurrency Index ETFs

21Shares US LLC has filed a registration statement with the U.S. Securities and Exchange Commission for two cryptocurrency index ETFs. The ETFs focus on top digital assets by market cap and include a version excluding Bitcoin.

The filings signal 21Shares’ commitment to expanding investor access to diversified crypto assets. This move is part of their strategy to provide broader market exposure and meet rising institutional demand.

Institutional Growth Potential with 21Shares ETFs

21Shares US LLC has filed with the SEC to launch two cryptocurrency index ETFs, known as the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF. These indexes, developed in collaboration with FTSE Russell, aim to track the top ten cryptocurrencies based on market capitalization, excluding Bitcoin in the latter case. CEO Hany Rashwan expressed the intent to foster diversified investor access to digital assets.

Institutional and retail investors may benefit from broader crypto exposure, especially in altcoins through the ex-BTC ETF. The indexes will be maintained and reviewed by 21Shares alongside FTSE Russell, ensuring rigorous standards and transparency.

21Shares US LLC today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for two Funds, the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF. – Hany Rashwan, CEO, 21Shares

Market Data and Future Insights

Did you know? 21Shares’ approach to index ETFs mirrors strategies that resulted in significant asset inflows during past Bitcoin and Ethereum ETF launches, potentially foreshadowing increased market dynamics once regulatory approval is secured.

According to CoinMarketCap, Bitcoin holds a price of $118,192.69, with a market cap of $2.35 trillion and a dominance of 60.99%. The supply currently stands at 19,894,281 out of a 21 million total. Despite a 1.81% drop in 24-hour values, the 90-day period shows a 38.60% increase, revealing Bitcoin’s strong recovery post-January.

Coincu research team notes that the approval of these ETFs could escalate institutional participation in cryptocurrency markets, possibly accelerating mainstream adoption. The history of ETFs suggests potential for enhanced liquidity across top-traded digital currencies, fostering a more robust trading environment.