21Shares unveils layer 1 and DeFi crypto ETPs

Offering exposure to the largest blockchains

21Shares has expanded its cryptocurrency exchange traded product (ETP) range with the launch of a Layer 1 and decentralized finance (DeFi) infrastructure ETPs.  

The 21Shares Crypto Layer 1 (LAY1) listed on SIX Swiss Exchange on the 12 May while the 21Shares DeFi 10 Infrastructure ETP (DEFI) will list on the same exchange on 18 May, both with total expense ratios (TER) of 2.50%.

LAY1 tracks the 21Shares Crypto Layer 1 index and will offer investors exposure to the five largest blockchains that form the foundation of the DeFi universe, with a maximum weighting of 30%.

DEFI will offer exposure to the decentralised financial services industry and will be split equally between a combination of the price performance of the DeFi applications and Layer 1 blockchains.

Rebalancing quarterly, both ETPs will track indices created by index provider Vinter.

Commetning on the launch, Ophelia Snyder, co-founder and president of 21Shares, said: “Our financial system is at the beginning of a paradigm shift. A plethora of new blockchain-based applications around…

Read more at www.etfstream.com

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