21Shares AG, the world’s largest physically-backed crypto ETP issuer, announced today that it will list 3 additional altcoin ETPs on the SIX Swiss Exchange. As a result of the new product launch, the total number of crypto ETP products on the Swiss market has increased to 20.
Crypto ETP launching for 3 altcoins
21Shares announced the news of 3 altcoin ETPs to be listed on the Swiss Stock Exchange. The first of these is the 21 Shares Polygon ETP. Listed as POLY, this ETP tracks investment results from Polygon, an Ethereum scaling platform that brings millions to Web3. Cryptocoin. com
As we reported , Polygon, which hosts more than 3,000 applications, has become one of the most popular ETH solutions due to its high speed, low transaction cost and networkability. This ETP is listed today.
In second place is the 21Shares Avalanche ETP. This ETP will be listed as AVAX. It follows the investment results of Avalanche, an Ethereum competitor that aims to displace the most popular blockchain of choice for smart contracts. This ETP will be listed on November 19. In third place is the ALGO ETP, which tracks investment results from Algorand, a layer 1 blockchain solution that supports the creation of decentralized applications. This ETP will be listed on November 23. Hany Rashwan, co-founder and CEO of 21 Shares, comments on these listings:
The addition of Polygon, Avalanche, and Algorand to the currently sizable single-asset ETPs provides another simple and easy option for investors to enter the crypto asset class, allowing us to continue fulfilling our mission of creating the simplest and most transparent way to access this asset class.