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Title: 21Shares Files for Two Crypto Fund ETFs With the U.S.SEC: Details
Switzerland-based digital asset management company 21Shares has announced a significant development in its bid to expand into the United States market. The company, which already boasts over $11 billion in assets under management (AUM), has partnered with Teucrium, an asset management firm focused on commodity and futures ETFs, to file for two new crypto fund ETFs with the United States Securities and Exchange Commission (SEC).
The proposed ETFs, namely the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF, aim to track a market-cap-weighted index of the top ten largest crypto assets globally. The former will include Bitcoin in its portfolio, while the latter will exclude it.
According to Federico Brokate, Head of U.S. Business at 21Shares, the company aims to provide institutional investors with diversified and easy-to-access ways to participate in the long-term growth of digital assets, pending regulatory approval.
The decision to file for these ETFs marks a significant step towards providing regulatory clarity and facilitating tokenization of crypto assets under the jurisdiction of the SEC. As an industry expert noted, “Investors are increasingly looking for options that allow them to easily access and participate in the growth potential of digital assets.”
Source: coinpedia.org
