The brand new spot bitcoin ETP will listing and commerce on Nasdaq Dubai, 21Shares stated in a press launch.
21Shares, a number one supplier of cryptocurrency change traded merchandise (ETPs), has expanded its product vary to the Center East, the corporate stated in a press launch on Wednesday.
The ETP issuer’s entry into the fast-growing Center East market comes with the launch of 21Shares Bitcoin ETP, the area’s first physically-backed Bitcoin ETP.
21Shares continues growth
21Shares’s new spot BTC change traded product will commerce on Nasdaq Dubai beneath the ticker ABTC and could have the identical traits because the 21Shares Bitcoin ETP Europe, based on the announcement.
“Our growth into the UAE is a significant milestone in 21Shares’ worldwide progress plans. Coming from the Center East myself, the area is exceptionally essential to me and, as an organization, we’re dedicated to offering regional traders with secure and safe entry to cryptocurrency-backed merchandise,” Hany Rashwan, CEO and co-founder of 21Shares stated in an announcement.
21Shares’ transfer into the Center East comes just a few weeks after mother or father firm 21.co launched and raised $25 million at a $2 billion valuation to turn out to be the most important crypto unicorn in Switzerland.
“Cryptocurrencies are quick changing into the asset of the long run for traders and wealth managers around the globe, as international crypto adoption and funding ranges proceed to speed up at tempo – and the Center East is a significant accelerator of this progress,” stated Sherif El-Haddad, the Head of Center East for 21Shares.
As CoinJournal reported, EL-Haddad joined 21Shares in August because the crypto ETP issuer expanded its attain throughout Europe and the Center East.
Over the previous 12 months, and regardless of the crypto winter, 21Shares has expanded its progressive merchandise suite, with launches together with the world’s first USD Yield ETP, crypto change traded funds (ETFs) in Australia and pioneered the and the Bitcoin and Gold ETP on the SIX Swiss Trade.
In June, 21Shares unveiled its Crypto Winter Suite, which as CoinJournal additionally reported, provided a product set tailor-made to assist traders navigate the bear market.