21Shares Launches Two US Index Funds Tracking Major Cryptocurrencies

Switzerland-based investment product issuer – 21Shares – is launching two private funds tailored for US accredited investors to gain exposure to crypto assets. The products will track top and mid-tiers cryptocurrencies available on US exchanges.

The two crypto exchange-traded products are the first-ever such investment products by the firm for US customers., Director of Product at 21Shares, said the new features will help potential crypto investors manage their investments without worrying about custodial arrangements: “Historically, the cumulative return rate of the top dozen cryptocurrencies has vastly outperformed traditional indexes like the S&P 500, Dow Jones Industrial Average, or Nasdaq Composite. Our two new index funds enable accredited investors to participate in cryptocurrencies without assuming the responsibility of managing custodial arrangements, tracking private keys and passwords, or being susceptible to hacking or security breaches.

21Shares CEO Hany Rashwan considered the latest step into the US market as part of its global expansion plan and reportedly noted that the recent market fluctuations have not changed its long-term strategy for crypto assets. He also clarified that the company’s interest in spot Bitcoin ETFs does not override its consistent endeavors in crypto ETPs.Earlier last year, the firm teamed up with ARK Investment Management, attempting to launch a Spot Bitcoin ETF for US Investors.

At that time, Rashwan said 21Shares might provide similar funds with other underlying assets in the future.

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