First-Ever Cardano and Stellar ETPs Are Launching on the Swiss Stock Exchange

ETP stands for Exchange-Traded product. ETPs are basically securities that are collateralized and are designed in a way to mirror the performance of the inside asset. 21Shares AG, previously known as Amun AG, is known for its superior experience in launching crypto-based Exchange-Traded Products. 21Shares has just struck a deal with Cardano and Stellar to launch the world’s first-ever $XLM and $ADA ETPs, for which the platform has chosen the Swiss stock exchange and some MFTs. The recent popularity surge is what caused 21Shares AG to make such a move. As announced by 21Shares AG in a recent press release, the two ETPs are expected to launch on April 26.

Words from the CEO

CEO of 21Shares AG, Hany Rashwan, had a few things to say about this launch. Hany stated that 21Shares AG is working hard with the authorities to work on the launch of these new innovative assets and are almost on the right path to release these unique crypto-based ETPs into the market. Hany added that Swiss and other European institutions were asking for an easy and effective way to get their feet into blockchain technologies like these, so as promised, the launch of these two new ETPs will fulfill all of their requirements, giving these institutions new trading opportunities to indulge in. 21Shares AG also revealed the release of 2 more crypto-based ETPs, which are expected to launch very soon into the market.

According to the information mentioned in the press release, every ETP released by 21Shares AG is fully collateralized, segregated, and mirrors the specific asset with a one-to-one ratio. The ETPs are meant to track down the performances of both ADA and XML. 21Shares AG also shared that a single unit of both ETPs will be backed with around 40XML to the XML ETP and 16ADA to the ADA ETP with a base fee tag of around 2.5% during the launch phase. Both ETPs will be available on the Swiss stock exchange as well as the Dusseldorf and Stuttgart MFTs.

Involved institutions might be celebrating, but some people have expressed their concerns about ETFs and ETPs, saying that bankers are bad for crypto assets because they have the ability to use contracts as a tool to take control of asset rates.

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Author: Isacco Genovesi

Isacco writes news articles, reviews and guides about cryptocurrencies including technical analysis, blockchain events, coin prices marketcap and detailed reviews on crypto exchanges and trading platforms.

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