21Shares, a leading supplier of cryptocurrency exchange traded items (ETPs), has actually expanded its product range to the Middle East, the business claimed in a press release on Wednesday.
The ETP provider s access into the fast-growing Middle East market comes with the launch of 21Shares Bitcoin ETP, the area s first physically-backed Bitcoin ETP.
21Shares s new spot BTC exchange traded product will trade on Nasdaq Dubai under the ticker ABTC and also will certainly have the very same attributes as the 21Shares Bitcoin ETP Europe, according to the statement.
21Shares continues growth
Our development right into the UAE is a significant milestone in 21Sharesinternational growth plans. Coming from the Middle East myself, the region is incredibly vital to me as well as, as a company, we are committed to offering regional investors with protected as well as safe access to cryptocurrency-backed products,” Hany Rashwan, CEO and co-founder of 21Shares stated in a declaration.
21Sharesmove right into the Middle East comes a couple of weeks after parent company 21. carbon monoxide elevated as well as introduced $25 million at a $2 billion evaluation to become the largest crypto unicorn in Switzerland.
&& Cryptocurrencies are fast coming to be the possession of the future for capitalists and also riches supervisors all over the world, as global crypto fostering and investment degrees continue to speed up at speed –— as well as the Middle East is a major accelerator of this development,” stated Sherif El-Haddad, the Head of Middle East for 21Shares.
As CoinJournal reported, EL-Haddad joined 21Shares in August as the crypto ETP company expanded its reach throughout Europe as well as the Middle East.
Over the past year, and despite the crypto winter months, 21Shares has actually increased its ingenious items suite, with launches including the globe s first USD Yield ETP, crypto exchange traded funds (ETFs) in Australia and pioneered the and also the Bitcoin and Gold ETP on the SIX Swiss Exchange.
In June, 21Shares introduced its Crypto Winter Suite, which as CoinJournal reported, provided an item set customized to help capitalists navigate the bearish market.
