Brief
- 21Shares launched a new ETP linked to the native token of Dydx, extending regulated access to one of the largest decentralized decentralized protocols.
- The product follows the previous deficits of 21Shares, notably Aave and Uniswap launched in 2022, becoming the largest emitter ETP Crypto in Europe with 48 products.
- Dydx was chosen because he “adds a distinctive dimension” by focusing on decentralized decentralized trading, Mandy Chiu, responsible for the development of financial products at 21Shares, said Decrypt.
Swiss Asset Manager 21Shares launched a new product negotiated in exchange, or FTE, linked to the native token of Dydx, Dydx. Companies have said that this would extend regulated access to one of the largest decentralized decentralized protocols.
The product, supported by Dydx tokens fucked with the guards, began to negotiate this week with the support of the Treasury Dydx Subdao, via its operator KPK, according to a press release shared with Decrypt.
ETP Crypto allow investors to buy and sell an exhibition to digital assets on the stock market. In Europe, they are generally issued as individual notes by underlying tokens, rather than common funds.
Dydx has already set over 1.4 billion of dollars in cumulative negotiation volume in 230 perpetual markets, but institutional participation was limited by guard, compliance and operational obstacles.
The product follows the anterior ETPs focused on the 21Shares, including Aave, ChainLink and UNISWAP products launched in 2022.
“The 21shares Dydx ETP is a natural extension of this range” Mandy Chiu, responsible for the development of financial products at 21Shares, said Decipher.
“It provides institutional quality access to one of the first decentralized exchanges to offer perpetual term contracts,” she added.
She said that liquidity and effective prices will be provided through manufacturer’s flow merchants, with daily creations and redemptions to maintain the product aligned with net assets.
“Together, Dydx, Uniswap and Aave represent additional DEFI infrastructure layers,” said Chiu. “Our ETP suite is designed to give investors the opportunity to allocate selectively or holistic to these constituent elements.”
Dydx was chosen because it “adds a distinctive dimension” by emphasizing decentralized decentralized trade, in particular perpetual future, an area which has historically been dominated by centralized exchanges, said Chiu.
She said that the product reflects “the continuous evolution of DEFI”, noting that as decentralized decentralized decents that mature, they can also be packed in transparent and negotiated products in exchange.
Charles d’Hausy, CEO of the Dydx Foundation, said Decipher The new product “authorizes the institutions to exploit the pioneer technology of Dydx which redefines the markets derived from the cryptography of 28 billions of dollars”, while the chain itself remains “fully sovereign and decentralized”.
“It has an architecture similar to that of the FNB ETF which does not facilitate activity on the protocol itself, but offers an exhibition of the protocol and, or, for us, $ dydx,” he said.
The chain, he added, remains “fully sovereign and decentralized on its own dedicated channel, with community governance and 50 independent validators”.
21Shares is already the largest emitter of Crypto ETPs in Europe, with 48 crypto-andps currently available on several exchanges.
Recent launches include CRONOS FEU ETPs, Aptos, the XDC et Su Suis network.
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