Fund 21Shares registered indexes for cryptocurrency hodlers
Cryptocurrency exchange product provider 21Shares announced the launch of two crypto indices on the Swiss exchange SIX
An exchange-traded product (ETP) provider called 21Shares has announced the registration of two crypto-ETPs on the Swiss exchange SIX. According to a press release, the indexes are named 21Shares Crypto Basket Equal Weight ETP (HODLV) and 21Shares Crypto Basket 10 ETP (HODLX).
The indices themselves are aimed at hodlers. HODLV tracks the activity of five cryptocurrencies: bitcoin (BTC), binance coin (BNB), ether (ETH), cardano (ADA) and XRP. Bitcoin accounts for the smallest share of the index at 19.96%. ADA has the most emphasis in the HODLV index at 20.04%.
In the case of HODLX, the list of supported cryptocurrencies is expanded to ten: polkadot (DOT), litecoin (LTC), bitcoin cash (BCH), solana (SOL), stellar (XLM), and the remaining five coins from the HODLV index. Here, bitcoin’s share is significantly higher at 60.61%. The company, according to the official website, will charge a 2.5% annual fee.
In the case of HODLX, the list of supported cryptocurrencies is expanded to ten: polkadot (DOT), litecoin (LTC), bitcoin cash (BCH), solana (SOL), stellar (XLM) as well as the remaining five coins from the HODLV index. Here, bitcoin’s share is significantly higher at 60.61%. The company, according to the official website, will charge a 2.5% annual fee.
Read also: Long-term hodlers have accumulated a bitcoin historical high
21Shares claims that the underlying assets at both indices are 100% collateralized and stored in cold wallets.
Recall, as CoinShares analysts found out, 21Shares asset manager is the most popular on a monthly basis. For example, the fund has attracted nearly $150 million in client money through its crypto-ETPs over the past 30 days. Thus, it surpassed Grayscale and Bitwise combined. However, on an annual scale, the fund is still inferior to the giants of the industry, and the amount of assets under management is about $1.6 billion.
