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    HomeBitcoin21shares enters the Middle East with first spot bitcoin ETP

    21shares enters the Middle East with first spot bitcoin ETP


    The brand new spot bitcoin ETP will listing and commerce on Nasdaq Dubai, 21Shares mentioned in a press launch.

    21Shares, a number one supplier of cryptocurrency trade traded merchandise (ETPs), has expanded its product vary to the Center East, the corporate mentioned in a press release on Wednesday.

    The ETP issuer’s entry into the fast-growing Center East market comes with the launch of 21Shares Bitcoin ETP, the area’s first physically-backed Bitcoin ETP.

    21Shares continues growth

    21Shares’s new spot BTC trade traded product will commerce on Nasdaq Dubai underneath the ticker ABTC and may have the identical traits because the 21Shares Bitcoin ETP Europe, based on the announcement.

    Our growth into the UAE is a serious milestone in 21Shares’ worldwide progress plans. Coming from the Center East myself, the area is exceptionally essential to me and, as an organization, we’re dedicated to offering regional traders with protected and safe entry to cryptocurrency-backed merchandise,” Hany Rashwan, CEO and co-founder of 21Shares mentioned in a press release.

    21Shares’ transfer into the Center East comes a number of weeks after father or mother firm launched and raised $25 million at a $2 billion valuation to turn into the biggest crypto unicorn in Switzerland.

    Cryptocurrencies are quick changing into the asset of the long run for traders and wealth managers around the globe, as world crypto adoption and funding ranges proceed to speed up at tempo – and the Center East is a serious accelerator of this progress,” mentioned Sherif El-Haddad, the Head of Center East for 21Shares.

    As CoinJournal reported, EL-Haddad joined 21Shares in August because the crypto ETP issuer expanded its attain throughout Europe and the Center East.

    Over the previous 12 months, and regardless of the crypto winter, 21Shares has expanded its modern merchandise suite, with launches together with the world’s first USD Yield ETP, crypto trade traded funds (ETFs) in Australia and pioneered the  and the Bitcoin and Gold ETP on the SIX Swiss Trade.

    In June, 21Shares unveiled its Crypto Winter Suite, which as CoinJournal additionally reported, supplied a product set tailor-made to assist traders navigate the bear market.

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