21Shares Launches New Bitcoin ETP in Switzerland ⋆ ZyCrypto
   
21Shares AG, a Swiss financial technology company, has announced the launch of its new exchange-traded product (ETP) called 21Shares Bitcoin Core ETP. The ETP went live on Wednesday and is traded on the SIX Swiss Exchange with the ticker CBTC.
The 21Shares Bitcoin Core ETP is tailored for the bear market
On Twitter, 21Shares introduced its family of financial products called “Crypto Winter Suite”. According to the tweet, the suite aims to “provide low-cost entry points into the crypto ecosystem in a risk-controlled manner.” As the name suggests, the bear market suite is tailored to help investors in such uncertain times.
The 21Shares Bitcoin Core ETP (CBTC) is the first financial product in the suite. More product launches are expected to follow shortly as the financial firm promises follow-up products designed specifically for the bear market.
The ETP is the most cost-effective product of its kind on the European market today. The expense ratio is 21 basis points, which is 44 basis points below the nearest financial product.
Speaking at the launch, Arthur Krause, Director of ETP Products at 21Shares said: “Given the current market environment, many investors are looking to buy the dip and capture the maximum potential long-term return,” further noting that the Crypto Winter Suite aims to give investors the ability to do it “in some places” at the lowest cost on the market.”
   
Hany Rashawn, co-founder and CEO of 21Shares, noted that the launch of the suite was heavily influenced by investor demand for this type of product to weather the crypto winter properly.
21Shares is the world’s largest issuer of crypto ETPs
21Shares is currently the world’s largest issuer of crypto ETPs and has launched a variety of financial products to track digital assets, tailored to different market conditions and investment preferences.
Last month, the company launched the 21Shares USD Yield ETP (USDY), the world’s first USD yield ETP. Earlier – in April – the company also launched Australia’s first Bitcoin and Ethereum ETFs, giving investors low-cost and direct access to the two digital assets.
In April, 21Shares also announced the listing of its BOLD product on the SIX Swiss Exchange. BOLD is the world’s first ETF to track the values of bitcoin and gold together. The company entered the US market a month later with the launch of two crypto index funds.