21Shares to Launch a Solana (SOL) ETP on SIX Exchange on June 30th
21Shares AG, the Swiss-based issuer of cryptocurrency-oriented Exchange-Traded Products, continues with launching such ETPs in Europe. The latest will track the performance of Solana (SOL) and will go live on June 30th on the Swiss stock exchange.
SOL ETP Coming to SIX Exchange
The company, aiming to close the gap between institutional investors and regulated cryptocurrency products, announced its latest ETP in a press release shared with CryptoPotato.
It will track the performance of SOL – the native cryptocurrency of the open-source blockchain project Solana. The product, dubbed ASOL ETP, will provide “additional yield through staking rewards by validating transactions on the Solana blockchain.”
It will go live on the regulated market of the Swiss stock exchange tomorrow – June 30th, 2021.
“Following an active review to extend our innovative and forward-thinking asset launches, we are on track to deliver more new ETPs demanded by clients, and as a result, we remain the market-leading crypto ETPs issuer of choice. European institutions continue asking us for simple and effective access to these new blockchain technologies.” – commented Hany Rashwan, CEO of 21Shares.
ASOL ETP will come after the company already launched numerous exchange-traded products tracking the performance of other crypto assets, such as Bitcoin (BTC), Ethereum (ETH), and Polkadot (DOT).
The most recent price volatility in the crypto space has not deterred institutional investors from allocating funds, as the company reported netting over $55 million of inflows across all of its ETPs in June alone.
21Shares to Take Part in ARK’s Bitcoin ETF
Apart from releasing ETPs in Europe, the Swiss company might have something to do with a Bitcoin ETF in the US.
Cathie Wood’s ARK Investment Management recently joined other firms like VanEck in the race of getting a BTC ETF approved by the US Securities and Exchange Commission.
The filing reads the ARK has partnered with 21Shares as the latter will serve as the sponsor of the Trust.
Although the SEC has received several applications for an exchange-traded fund tracking the performance of the primary cryptocurrency in the past several months, it has yet to approve even one. So far, the most optimistic developments came after it delayed, instead of rejected, VanEck’s proposals.
