21Shares to launch crypto ETF with a bearish tilt

The cryptocurrency ETP provider 21Shares announced the launch of a line of ‘crypto-winter’ ETPs. The instruments are intended for investors who are pessimistic about the prospects for the digital asset market.

Introducing the @21Shares Crypto Winter Suite. This family of products is designed to provide low-cost points of entry into the #crypto ecosystem in a risk-controlled manner, helping investors manage challenging bear markets. (1/3) pic.twitter.com/jCR6XKqsYn

— 21Shares (@21Shares) June 29, 2022

The Crypto Winter Suite will provide an accessible entry into the ecosystem with controlled risk, the company said.

On June 29, the first instrument, the 21Shares Bitcoin Core ETP (CBTC), was listed on the Swiss stock exchange. Total expense ratio will amount to 0.21%.

In the future, the firm will introduce additional ETPs from this lineup for both short-term and long-term investors.

Earlier, 21Shares and asset manager ARK Invest filed a new joint application to launch an exchange-traded fund based on the first cryptocurrency.

The U.S. Securities and Exchange Commission has yet to approve any application to launch a spot Bitcoin ETF, including from ARK Invest and 21Shares, which the partners filed on May 20, 2021.

Previously, 21Shares received a listing for an ETP based on the FTX Token and Decentraland on the Swiss BX Swiss exchange.

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