21Shares Launching First Polkadot ETP on SIX Exchange

The Polkadot ETP (PDOT) will list on the Swiss SIX Exchange on Thursday.

Feb 2, 2021 at 8:24 a.m. UTC
Updated Sep 14, 2021 at 11:04 a.m. UTC

Switzerland-based investment product provider 21Shares is launching the world’s first exchange-traded product (ETP) for the polkadot cryptocurrency.

  • 21Shares, formerly known as Amun, said Tuesday the Polkadot ETP (ticker: PDOT) will list on the Swiss SIX Exchange on Feb. 4.
  • The firm said the listing came about because it wanted to stay "ahead of the curve" amid a surge in interest for the cryptocurrency asset class.
  • Founded by Ethereum co-founder Gavin Wood, Polkadot is a blockchain network that supports various interconnected sub-chains called parachains.
  • Last Friday, Polkadot was added to the 21Shares HODL basket ETP as the second-largest constituent after bitcoin, replacing bitcoin cash. As such, 21shares took the decision to give the crypto asset its own ETP.
  • Polkadot market capitalization is currently around $15 billion, putting DOT at fifth place in the cryptocurrency rankings, according to CoinMarketCap.
  • “European investors are approaching us to launch new products based on other key crypto assets to enable them easy access without the need of a private key or unregulated wallets and exchanges,” said Hany Rashwan, CEO 21Shares AG.
  • In the next three months, 21Shares aims to add more ETPs, as well as new European exchange listings.

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