21Shares, a prominent crypto product firm, has announced the launch of new exchange-traded products (ETPs) focused on four major digital assets. The company took to social media platform X to unveil the new ETPs for oracle provider Pyth (PYTH), decentralized graphics processing protocol Render (RENDER), real-world assets-focused Ondo Finance (ONDO), and layer-one blockchain Near Protocol (NEAR).
In a recent tweet, 21Shares excitedly shared, “Big news: Four game-changing ETPs just released! Introducing our newest products focused on oracles, tokenization, decentralized computing, and artificial intelligence.” Each ETP is described as being 100% “physically” backed by its corresponding token.
Following the announcement, all four altcoins experienced a surge in their market prices. RENDER and ONDO are currently trading at $7.73 and $1.05 respectively, while PYTH and NEAR are valued at $0.446 and $6.68. The positive response to the ETP launch highlights the growing interest in digital assets and blockchain technologies.
In a related development, Wisdom Tree, another asset manager and ETF issuer, revealed plans to create an ETF centered around XRP, the digital asset associated with Ripple Labs’ payments platform. This move indicates a broader trend of traditional financial institutions embracing cryptocurrencies and blockchain-based assets.
21Shares had previously submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for an XRP ETF named the “21Shares Core XRP Trust.” While no launch date has been specified, the proposal signifies a growing demand for investment products tied to popular digital assets like XRP.
As the crypto market continues to evolve, investors are increasingly seeking exposure to a diverse range of digital assets through innovative financial products like ETPs and ETFs. The introduction of these new products by 21Shares and other industry players reflects a growing acceptance and adoption of cryptocurrencies in traditional financial markets.
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