21Shares Lists Four Physically Backed Crypto-Asset ETNs on London Stock Exchange

21Shares Lists Four Physically Backed Crypto-Asset ETNs on London Stock Exchange

London, UK, 28th May 2024 21Shares, the world’s largest issuer of crypto exchange-traded products (ETPs), today announced the launch of four physically backed crypto-asset exchange traded notes (ETNs) on London Stock Exchange – available for professional investors. Each ETN is listed in both GBP and USD. This launch marks 21Shares official entrance into the UK market.

ETN Name Ticker ISIN Listing currency Total Expense Ratio
21Shares Bitcoin ETN ABTC LN CH0454664001 GBP 1.49%
21Shares Ethereum Staking ETN AETH LN CH0454664027 GBP 1.49%
21Shares Bitcoin Core ETN CBTC LN CH1199067674 GBP 0.21%
21Shares Ethereum Core ETN ETHC LN CH1209763130 GBP 0.21%
21Shares Bitcoin ETN BTCU LN CH0454664001 USD 1.49%
21Shares Ethereum Staking ETN ETHU LN CH0454664027 USD 1.49%
21Shares Bitcoin Core ETN CBTU LN CH1199067674 USD 0.21%
21Shares Ethereum Core ETN CETU LN CH1209763130 USD 0.21%

The listings come in response to a new regulatory environment in the UK, following the recent news that the Financial Conduct Authority will allow professional investors to access Bitcoin and Ethereum-backed exchange-traded notes.

The milestone marks the latest expansion in 21Shares’ global growth, providing professional and institutional investors with regulated, transparent, and secure access to the rapidly evolving cryptocurrency market and asset class.

Founded in 2018, 21Shares pioneered the world’s first physically-backed crypto ETN and has established a solid track record of creating innovative, reliable, and compliant crypto investment products. With ETNs already listed on prominent exchanges such as Nasdaq OMX, Euronext Paris and Amsterdam, Deutsche Börse Xetra, and SIX Swiss Exchange, 21Shares is there to meet a growing demand from investors to gain exposure to digital assets through their existing bank or brokerage accounts.

Ophelia Snyder, co-founder, said:

“The UK is one of the deepest, most-liquid capital markets in the world. As institutional interest in cryptocurrencies grows, it is only natural that London Stock Exchange hosts responsible, properly-constructed funds offering access to these markets.

That’s where an established firm like ours, with a proven track record through volatile markets, can play an integral role. We have listed more than 40 ETNs on 11 different stock exchanges. We are excited to be part of this evolution in the UK.”

Hany Rashwan, co-founder, said:

“Crypto is here to stay. There is a clear role for decentralised finance in a global world, and more people are coming around to that point of view. More and more institutional investors want to have an exposure to the transformational potential of cryptocurrencies, as part of a balanced investment portfolio.

That demand already exists, and we are helping to supply the products to meet that demand. We are keen to watch how the space evolves, and how we can continue to support growth in the sector as the regulatory environment progresses.”

21Shares offers the largest suite of cryptocurrency exchange-traded notes (ETNs) globally, catering to a wide range of investor needs, including 7 diversified index ETNs, which provide exposure to a basket of top cryptocurrencies, and 5 staking ETNs that generate additional returns through staking. Additionally, 21Shares provides 2 inverse ETNs that profit from price declines.

21Shares’ currently has over $3.6bn in European assets under management (AUM), as of 24 May 2024.

For further information, interviews, or high-resolution images, please contact Christian Round
christian.round@teneo.com (+44 7585 996379)

Notes to Editors

  • 21Shares was founded to solve a specific problem: making cryptocurrency accessible to everyday investors. Co-founders Ophelia Snyder and Hany Rashwan combined their backgrounds in finance and technology to create a bridge between traditional finance and the burgeoning world of digital assets.
  • Co-founder Ophelia Snyder graduated from Stanford University in 2014, before embarking on a career in investment banking. In 2013, Snyder’s interest in cryptocurrencies was sparked by her mother, a former banker and business owner, who introduced her to Bitcoin during a discussion about the impact of the 2008 financial crisis. Snyder realised that crypto could offer decentralised, transparent, inclusive, and secure alternatives to traditional financial systems during times of economic instability – leading her to co-found 21Shares with university friend Hany Rashwan, with the ultimate mission of building bridges into the crypto world.
  • Co-founder Hany Rashwan, an Egyptian businessman and computer engineer, was born in Cairo and raised in Alexandria. Inspired by his grandfather’s expertise in cryptography, Rashwan’s journey with technology began early, building gaming sites at the age of 14. He launched multiple start-ups while studying for an MBA at Columbia, including a digital payments business that he sold at a considerable profit.  He moved to Silicon Valley, and started networking around the Stanford campus – where he met Ophelia.
  • Alex Pollak, Head of UK & Israel, spent 15 years at BlackRock and part of the team which worked on BlackRock’s exchange-traded fund, iShares, before joining 21Shares in 2021. He set up BlackRock’s Israel business where he was exposed to the vibrant crypto culture in the country. Prior to BlackRock, Alex was an investment analyst at a London asset manager, his first professional role in finance after graduating from the University of Georgia.
  • With a strong focus on research, client service, and regulatory compliance, 21Shares continues to lead the way in crypto investment solutions.
  • 21Shares launched the world’s first physically backed crypto ETN in 2018, marking a significant milestone in the sector.
  • Offers the largest suite of cryptocurrency exchange-traded products (ETNs) globally, catering to a wide range of investor needs.
  • Listed more than 40 ETNs across 11 different exchanges around the world, and manages 29 single asset ETNs that track the performance of individual cryptocurrencies such as Bitcoin and Ethereum.
  • The assets under management for the Bitcoin ETN alone amounted to approximately $693.8 million as of April 2024.
  • Introduced the world’s first staking ETN product – a new type of investment product that allows investors to earn returns not just from market price movements but also by participating in the process known as “staking” in the cryptocurrency world.
  • Staking involves holding ETNs in a cryptocurrency wallet to support the operations and security of a blockchain network. In return, stakers receive rewards, similar to earning interest in a traditional bank account. The 21Shares Ethereum Staking ETN (AETH) is the largest ETN tracking Ethereum and has the longest track record of any physical ETH product on the market.
  • Find out more at https://www.21shares.com/en-eu/about-us

Important Information

This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2023 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with SIX Exchange Regulation AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2023 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

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