21Shares to Launch Polygon, Avalanche and Algorand-based ETPs

The physically backed crypto ETP provider 21Shares announced the listing of three new token-based ETPs linked to Polygon, Avalanche and Algorand.

The products will trade on Switzerland’s largest stock exchange, SIX Swiss Exchange.

The listing of the 21Shares Polygon ETP will take place on November 18, with the 21Shares Avalanche ETP the following day. Trading of the 21Shares Algorand ETP will start on November 23.

The addition of Polygon, Avalanche and Algorand to our already extensive set of ETPs provides investors with another simple and accessible way to enter the crypto asset class,

said Hany Rashwan, co-founder and CEO of 21Shares.

As of November, assets under management by 21Shares stood at nearly $3 billion. In February, the firm reported surpassing the $1 billion milestone.

The number of crypto ETPs offered by the company has reached 20. In total, they have completed 80 listings and are listed on eight regulated European exchanges.

As of writing, all three tokens were in the green over the last 24 hours, according to CoinGecko. On November 17, the price of Avalanche hit an all-time high above $110. The price pulled back, but over the week AVAX’s price rose by almost 23%.

Earlier in June, 21Shares, together with ARK Invest filed an application in the United States for a Bitcoin-based exchange-traded fund (ETF).

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