An exchange-traded product (ETP) offering exposure to Crypto.com’s Cronos token has been introduced in Europe by 21Shares, according to a statement from the asset manager.
The native token CRO, which belongs to the blockchain network affiliated with Crypto.com—Cronos—is set to be held by the European exchange-traded product.
It was announced by 21Shares on May 6 that the ETP has been listed on the Paris and Amsterdam exchanges operated by Euronext.
Cronos is recognized as a layer-1 blockchain network that is associated with the centralized exchange, Crypto.com.
It was stated by 21Shares that the chain has been built to be compatible with the Ethereum and Cosmos ecosystems, and is intended to support decentralized finance (DeFi), NFTs, and Web3 applications.
According to 21Shares, the ETP has been designed to offer investors a simplified method of adding CRO to their portfolios via conventional banks and brokers, removing the requirement to manage digital wallets or cryptocurrency exchanges directly.
In a statement, it was expressed by Mandy Chiu, head of financial products development at 21Shares, that regulated access to a blockchain ecosystem fostering real-world adoption is being provided to investors through the launch of a Cronos ETP.
Based on data provided by CoinMarketCap, the CRO token is reported to have a market capitalization of around $2.3 billion and a fully diluted valuation (FDV) approaching $8.7 billion.
According to data reported by DeFiLlama, a total value locked (TVL) of nearly $400 million has been attributed to Cronos.
As shown by the data, the DeFi ecosystem of Cronos is comprised of Crypto.com’s liquid Ether staking token, known as Crypto.com Staked ETH, with a total value locked (TVL) nearing $64 million.
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An application was submitted on May 5 by asset manager VanEck to list an exchange-traded fund (ETF) in the US that is linked to another token associated with a crypto exchange.
The VanEck BNB ETF has been introduced as the first proposed ETF in the US to hold BNB, the native token of the BNB Chain, which is connected to Binance, the largest centralized exchange globally.
ETFs containing cryptocurrencies such as Dogecoin have been proposed in the US by 21Shares.
Approval to list more than 70 cryptocurrency ETFs is being sought from the US Securities and Exchange Commission (SEC) by various asset managers.
The SEC’s regulatory stance on crypto has been softened by US President Donald Trump since taking office in January, resulting in a surge of filings.
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