21Shares Launches World’s First ETP Offering Exposure to Stacks
Apr 3, 2023
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The 21Shares Stacks Staking ETP is the first product on the market providing exposure to Stacks, a promising crypto asset
21Shares is announcing the launch of the 21Shares Stacks Staking ETP (ASTX). This is the world's first ETP to offer exposure to Stacks, a crypto asset protocol that unlocks the full potential of Bitcoin as an infrastructure for smart contracts and decentralized applications.
Stacks aims to expand beyond Bitcoin's primary use case as an emerging store-of-value asset and settlement infrastructure. It is one of the most promising crypto assets in the market today – currently valued at $1.57 billion, a small fraction of equally promising assets. The 21Shares Stacks Staking ETP provides investors with the first way to access this asset without holding it directly.
“ASTX provides a unique opportunity for investors, as there are currently no other investment products providing exposure to Stacks on the market,” said Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares. “At 21Shares, we pride ourselves on continually bringing first-to-market products to investors in a safe and regulated manner. Our ETPs allow investors to access innovative and promising crypto assets through trusted investment vehicles.”
The 21Shares Stacks Staking ETP (ASTX) is available for trading on the BX Swiss exchange from today.
Investor interest in the crypto asset class continues to grow in early 2023, with 21Shares closing out its second best January in company history this year. In January 2023, the AUM for 21Shares’ Ethereum and Bitcoin ETPs (AETH and ABTC) both exceeded $200 million, bringing the total number of 21Shares ETPs with over $200 million in AUM to three. Year-to-date, 21Shares has recorded $30 million in net new assets.
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