21Shares Two Latest Crypto Funds Keying In on DeFi

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-21Shares has introduced two ETPs that give investors exposure to the nuts and bolts of DeFi.
-The Switzerland-based company listed its Layer 1 ETP (LAY1) on the SIX Swiss Exchange on Thursday. The 21Shares DeFi 10 Infrastructure ETP (DEFII) is set to become available on the BX Swiss Exchange on May 18.
-LAY1 tracks an index developed by index provider Vinter and includes the 15 largest, by market capitalization, layer-1 blockchains. There is a maximum weighting of 30% of an allocation per each blockchain, and rebalancing is conducted quarterly.
-DEFII, which also tracks a Vinter index, focuses on DeFi (decentralized finance) applications and layer-1 blockchains each segment representing half of the benchmark. The assets in both categories are ranked by market capitalization and likewise reweighted quarterly.
-21Shares is the first issuer in Europe to launch an ETP (exchange-traded product) based on a DeFi index, according to the company. The products are available to investors across Europe, and 21Shares will look to cross-list them on additional regional exchanges.
-The launches come as investors have shifted from superficial questions about crypto to more nuanced analysis, according to Ophelia Snyder, co-founder and president of 21Shares. Retail and institutional investors alike are after more diversification, she added.
-21Shares has launched a handful of ETPs this year, such as products focused on Aave (AAVE), Chainlink (LINK) and Uniswap (UNI). CEO Hany Rashwan said earlier this year that the firm aims to support what it considers to be the top 50 cryptocurrencies by year end.
-Snyder said that 21Shares is planning to establish a Middle Eastern foothold next month via Dubai which proposed its first cryptocurrency legislation overseen by a new regulatory agency in March.

21Shares 21Shares Two Latest Crypto Funds Keying In on DeFi
21Shares Two Latest Crypto Funds Keying In on DeFi 2

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